Ault Alliance Announces the Completion of the Initial Distribution of TOG Securities
- Stockholders receive a special dividend of TurnOnGreen securities, adding value to their investment portfolio.
- The delay in the initial distribution caused by similar market capitalizations of Ault Alliance and TurnOnGreen may have negatively affected investor sentiment.
Ault Alliance Distributed Approximately 58.6 Million Shares of Common Stock and Warrants to Purchase Approximately 58.6 Million Shares of Common Stock of Imperalis Holding Corp. on July 10, 2023
The Company intends to set a record date and payment date for the subsequent distribution(s) (the “Subsequent Distribution”) of approximately 81.4 million shares of TurnOnGreen common stock and approximately 81.4 million warrants to purchase shares of TurnOnGreen common stock that the Company presently expects will, with the Initial Distribution, constitute an aggregate of 140 million shares of TurnOnGreen common stock and warrants to purchase 140 million shares of TurnOnGreen common stock.
“We are pleased to be able to offer this special dividend to our loyal stockholders,” said Milton “Todd” Ault, III, the Executive Chairman of Ault Alliance. “Completion of this Initial Distribution was difficult, in part given the similar market capitalizations of the Company and TurnOnGreen, which caused a delay in the Initial Distribution and led to our decision to complete the Distribution in tranches. However, the completion of the Initial Distribution confirms our commitment to delivering value to our stockholders, and we hope that they will find this dividend to be a valuable addition to their investment portfolio.”
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 shares of the Company’s common stock or any other securities of the Company. The Initial Distribution was not made to any person in any jurisdiction in which the offer, solicitation or sale is unlawful. Any distribution of the shares of TurnOnGreen common stock and warrants will be made only by means of the applicable registration statement and the prospectus included therein.
For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at https://www.ault.com/ or available at https://www.sec.gov/.
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,
About Imperalis Holding Corp.
TurnOnGreen designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications, lifesaving and sustaining applications spanning multiple sectors in the harshest environments. The diverse markets that TurnOnGreen serve include defense and aerospace, medical and healthcare, industrial, telecommunications, and e-Mobility. TurnOnGreen brings decades of experience to every project, working with its clients to develop leading-edge products to meet a wide range of needs. TurnOnGreen’s headquarters are located in
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
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Source: Ault Alliance, Inc.
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