Ault Global Holdings Buys 9.91% Equity Interest in SilverSun Technologies, Inc.

Rhea-AI Summary

Ault Global Holdings (NYSE American: DPW) announced the acquisition of 446,255 shares, representing a 9.91% equity interest in SilverSun Technologies (NASDAQ: SSNT) as of January 28, 2021. The purchase included 436,255 shares at an average price of $4.33, totaling $1,890,026. Related parties acquired an additional 10,000 shares at $3.57 each. Executive Chairman Milton Ault III emphasized the company's activist strategy aimed at enhancing shareholder value through constructive cooperation with SSNT's board.

Positive

• Acquisition of 446,255 shares in SilverSun Technologies, enhancing DPW's investment portfolio.
• The activist strategy aims to create shareholder value, indicating potential for future growth.

Negative

• None.

Ault Global Holdings, Inc. (NYSE American: DPW), a diversified holding company (the “Company”), announced that as of January 28, 2021, the Company and related parties had purchased an aggregate of 446,255 shares of common stock or 9.91% equity interest in SilverSun Technologies, Inc. (NASDAQ: SSNT) (“SSNT”). The Company purchased 436,255 shares of common stock at a weighted average price of $4.33 per share in the open market, for total gross proceeds of $1,890,026 and the related party purchased 10,000 shares of common stock at a weighted average price of $3.57. For further information, see the Schedule 13D filed by the Company on February 1, 2021.

Milton “Todd” Ault, III, the Executive Chairman of the Company, stated, “We hope to work constructively with the SSNT’s Board of Directors and management to create value for all shareholders. As we outlined in December of 2017, we see a favorable opportunity to follow an activist strategy to add shareholder value. We are announcing our initial ownership stake in SilverSun Technologies as we continue our activist strategy which is an important part of our business model going forward.”

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, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holding’s 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/20210216005556/en/

FAQ

What was the date of Ault Global Holdings' acquisition of SSNT shares?

The acquisition was announced on January 28, 2021.

How many shares of SSNT did Ault Global Holdings acquire?

Ault Global Holdings purchased an aggregate of 446,255 shares of SSNT.

What was the average purchase price of SSNT shares by Ault Global?

The average purchase price was $4.33 per share for 436,255 shares.

What percentage of equity interest in SSNT does DPW hold?

DPW holds a 9.91% equity interest in SilverSun Technologies.

What is the purpose of Ault Global's acquisition strategy regarding SSNT?

The purpose is to implement an activist strategy to enhance shareholder value.