Ault Alliance Announces an Amendment in the Pending Exchange Offer

Rhea-AI Summary

Ault Alliance, Inc. (NYSE American: AULT) has amended and restated its Offer to Exchange, focusing on clarifying terms, updating financial information for 2021 and 2022, and ensuring compliance for the listing of Series H Preferred Stock on NYSE American. This amendment does not change the fundamental terms of the Offer. The updated Offer to Exchange was filed with the U.S. Securities and Exchange Commission and is available online. Stockholders are encouraged to review the related documents for critical insights regarding the Offer. This reflects Ault Alliance's strategy to enhance shareholder value while fulfilling regulatory requirements.

Positive

• Clarification of terms in the Offer to Exchange.
• Updated financial information for 2021 and 2022 provided.
• Voting rights for Series H Preferred Stock enhanced for NYSE American compliance.

Negative

• None.

LAS VEGAS--(BUSINESS WIRE)-- Ault Alliance, Inc. (“Ault Alliance” or the “Company”) (NYSE American: AULT), announced today that it has amended and restated the Offer to Exchange in connection with the previously announced exchange offer (the “Offer”). The Company is amending and restating the Offer to Exchange to clarify certain terms of the Offer regarding closing conditions, provide updated financial information for the years ended December 31, 2021 and December 31, 2022, and provide certain voting rights to the Series H Preferred Stock that are required by the NYSE American to list the Series H Preferred Stock on the NYSE American. The other terms and conditions of the Offer remain unchanged.

An Amended and Restated Offer to Exchange has been filed with the U.S. Securities and Exchange Commission, and can be retrieved at http://www.sec.gov. Documents relating to the Offer may be downloaded at: https://ir.ault.com/reports-financials/sec-filings/, and will be distributed to holders of shares of Common Stock who request them from Georgeson, the information agent for the Offer at 888-565-5423 or visit https://ir.ault.com/ for this purpose.

This press release is for informational purposes only and shall not constitute an offer to sell or exchange nor the solicitation of an offer to buy the Series H Preferred Stock or any other securities. The Offer is not being made to any person in any jurisdiction in which the offer, solicitation or sale is unlawful. Any offers of the Series H Preferred Stock will be made only by means of the Offer to Exchange.

The complete terms and conditions of the Offer are set forth in the Amended and Restated Offer to Exchange dated April 20, 2023 that has been filed with the Securities and Exchange Commission on Schedule TO. Stockholders of Ault Alliance are strongly encouraged to read the Schedule TO and related exhibits because they contain important information about the Offer. The Schedule TO and related exhibits will be available without charge at the Securities and Exchange Commission’s website at http://www.sec.gov and will be delivered without charge to all stockholders of Ault Alliance.

About Ault Alliance, Inc.

Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.ault.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230420005973/en/

IR@Ault.com or 1-888-753-2235

Source: Ault Alliance, Inc.

FAQ

What did Ault Alliance announce on April 20, 2023?

Ault Alliance announced an amendment and restatement of its Offer to Exchange to clarify terms and update financial information.

What is the significance of the restated Offer to Exchange for Ault Alliance?

The restated Offer clarifies closing conditions and provides updated financial information, ensuring compliance for listing on NYSE American.

Where can I find details about the amended Offer to Exchange by Ault Alliance?

Details can be found in the filing with the U.S. Securities and Exchange Commission, available at www.sec.gov.

What information was updated in Ault Alliance's press release?

The press release provided updated financial information for the years ended December 31, 2021, and December 31, 2022.

How does the amendment affect Ault Alliance's Series H Preferred Stock?

The amendment provides certain voting rights to the Series H Preferred Stock required for listing on NYSE American.