Ault Global Holdings Announces “At The Market” Offering of Common Stock

Rhea-AI Summary

Ault Global Holdings (NYSE American: DPW) has launched an "at-the-market" equity offering program, aiming to raise up to $50 million through the sale of common stock. The shares will be sold via Ascendiant Capital Markets, LLC, acting as the sales agent. Proceeds from this offering are set to support potential acquisitions, enhance its electric vehicle charging and energy storage ventures, expand data center operations, and for general corporate purposes. Currently, there are no commitments for specific acquisitions.

Positive

• Intends to use proceeds for potential acquisitions, enhancing its electric vehicle charger and energy storage businesses.
• Funds will support expansion of data center operations.

Negative

• Issuance of new shares may lead to shareholder dilution.
• No specific acquisitions commitments at the time of offering.

Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the “Company”), announced today that it has established an “at-the-market” equity offering program under which it may sell, from time to time, shares of its common stock for aggregate gross proceeds of up to $50,000,000. The shares of common stock will be offered through Ascendiant Capital Markets, LLC, which will act in its capacity as sales agent (the “Agent”).

Pursuant to a sales agreement with the Agent, sales of shares of the Company's common stock may be made in transactions that are deemed to be “at-the-market” offerings, including sales made by means of ordinary brokers’ transactions on the NYSE American or otherwise at market prices prevailing at the time of sale or as agreed to with the Agent.

The Company intends to use the net proceeds from the “at-the-market” equity offering, if any, for the financing of possible acquisitions of companies and technologies, financing of our emerging electric vehicle charger and energy storage businesses, expansion of our data center business or other business expansions and investments and for working capital and general corporate purposes, which may include the repayment, refinancing, redemption or repurchase of future indebtedness or capital stock. The Company does not have agreements or commitments for any specific acquisitions at this time.

The shares of common stock described above are being offered pursuant to a shelf registration statement (File No. 333-251995) which became effective on January 20, 2021. Such shares of common stock may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Before making an investment in these securities, potential investors should read the prospectus supplement and the accompanying prospectus for more complete information about the Company and the “at-the-market” equity offering program. Potential investors may obtain these documents for free by visiting EDGAR on the U.S. Securities and Exchange Commission’s website at www.sec.gov. Alternatively, potential investors may contact the Agent, who will arrange to send them these documents: Ascendiant Capital Markets, LLC, Attention: Jennifer Martin, 18881 Von Karman Avenue, 16th Floor, Irvine, CA 92612, telephone: (949) 259-4907 Ext. 49, email: jmartin@ascendiant.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

For more information on Ault Global Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings and press releases available under the Investor Relations section at www.AultGlobal.com or available at www.sec.gov.

About Ault Global Holdings, Inc.

Ault Global Holdings, 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, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, telecommunications, medical/biopharma, automotive and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Corporate headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; http://www.AultGlobal.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 SEC including, but not limited to, the Company’s Forms 10-K and 10-Q. All filings are available at www.sec.gov and on the Company’s website at www.AultGlobal.com.

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FAQ

What is the purpose of Ault Global Holdings' equity offering program?

The purpose of the equity offering program is to raise up to $50 million to finance possible acquisitions, expand its businesses, and for general corporate purposes.

How much capital is Ault Global Holdings aiming to raise with the new program?

Ault Global Holdings aims to raise up to $50 million through the equity offering.

Who is the sales agent for Ault Global Holdings' equity offering?

Ascendiant Capital Markets, LLC is acting as the sales agent for Ault Global Holdings' equity offering.

What are the risks associated with Ault Global Holdings' stock offering?

The primary risks include potential shareholder dilution and the lack of current commitments for specific acquisitions.

When did the shelf registration statement for Ault Global Holdings' offering become effective?

The shelf registration statement became effective on January 20, 2021.