Ault Alliance Received a Dividend of $1.5 Million from its Subsidiary, Circle 8 Crane Services
Ault Alliance acquired the assets of Circle 8 in December 2022, and the cash dividend from Circle 8 to Ault Alliance has reinforced the Company’s financial position. The addition of Circle 8 to Ault Alliance’s business portfolio has produced positive results in less than nine months, a testament to the commitment and efficiency of Circle 8’s management team, whose performance has significantly exceeded Ault Alliance’s projections when it decided to make the acquisition.
Milton “Todd” Ault, III, the Company’s Executive Chairman, expressed his satisfaction with the results, stating, “We could not be more pleased with the acquisition of Circle 8. Its management team has performed exceedingly well to date. One of the most prominent features of our business model as a holding company consists of receiving dividends from the free cash flow of our portfolio companies, which Circle 8 has demonstrably proven capable of accomplishing.”
Mr. Ault further commented, “We greatly appreciate the return on investment delivered by Circle 8. It reinforces our business strategy of making investments in a diversity of industries and provides us the ability to, among other potential allocations of resources, make additional investments in promising opportunities to achieve strategic growth in the future.”
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 www.ault.com or available at 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 offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, 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,
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Source: Ault Alliance, Inc.
