Ault Global Holdings Announces Formation of Ault Global Real Estate Equities, Inc. to Invest in Commercial Real Estate

Rhea-AI Summary

Ault Global Holdings, Inc. (NYSE American: DPW) has launched Ault Global Real Estate Equities, Inc. (AGREE), aimed at investing in middle-market commercial real estate in the U.S. Christopher K. Wu has been appointed as CEO to spearhead this initiative. The company plans to focus on sectors like hospitality and multifamily housing, leveraging Wu's expertise to create long-term value. Executive Chairman Milton “Todd” Ault expressed confidence in finding attractive investment opportunities, emphasizing that Wu’s leadership will facilitate non-recourse financing to enhance the real estate portfolio.

Positive

• Formation of AGREE to target middle-market commercial real estate investments.
• Appointment of Christopher K. Wu as CEO, bringing significant experience in the sector.
• Focus on potentially lucrative sectors like hospitality and multifamily housing.
• Potential for non-recourse financing to expand the real estate portfolio with limited resource impact.

Negative

• None.

Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the “Company”), announced that it has formed Ault Global Real Estate Equities, Inc., a Nevada corporation (“AGREE”), to invest in commercial real estate, targeting the middle-market segment in the Unites States. AGREE has appointed Christopher K. Wu as its Chief Executive Officer to lead this strategy.

Mr. Wu stated, “I’m pleased to lead the AGREE platform to invest opportunistically and create long-term value in commercial real estate sectors such as hospitality and multi-family housing properties, among others, nationwide.”

Milton “Todd” Ault, Executive Chairman of the Company, stated, “We believe there are attractive assets in commercial real estate in the United States that would benefit from capital investment and repositioning, and we believe Chris Wu, given his experience in the commercial real estate sector, will provide strong leadership to drive investments that meet our criteria. Chris brings a unique skill set and connections to provide non-recourse financing to the Company, allowing us to expand our real estate portfolio with limited impact on the Company’s resources.”

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 with the SEC, available at www.sec.gov, and press releases available under the Investor Relations section at www.AultGlobal.com.

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, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holdings’ headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; 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 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.AultGlobal.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210716005120/en/

FAQ

What is the purpose of Ault Global Real Estate Equities, Inc. (AGREE)?

AGREE aims to invest in middle-market commercial real estate in the United States.

Who is the CEO of Ault Global Real Estate Equities, Inc.?

Christopher K. Wu has been appointed as CEO of AGREE.

What sectors is AGREE focusing on for its real estate investments?

AGREE plans to focus on sectors such as hospitality and multifamily housing.

How does Ault Global Holdings plan to finance its new real estate investments?

The company seeks to use non-recourse financing to expand its real estate portfolio.

What stock symbol is associated with Ault Global Holdings?

Ault Global Holdings is traded under the stock symbol DPW on NYSE American.