Ault Global Holdings Names Christopher K. Wu Executive Vice President of Alternative Investments of the Company and as the President of Ault Alliance, Inc., a Wholly Owned Subsidiary of the Company

Rhea-AI Summary

Ault Global Holdings (NYSE American: DPW) has appointed Christopher K. Wu as Executive Vice President of Alternative Investments and President of Ault Alliance, Inc. With over 20 years of investment banking and restructuring experience, Wu aims to enhance the company’s investment sourcing and shareholder value. He previously served at Teneo Capital and Carl Marks Advisors, with significant achievements in commercial real estate and financial services. This strategic hiring reflects Ault Global's commitment to optimizing its diversified portfolio and driving growth.

Positive

• Appointment of Christopher K. Wu as Executive Vice President is a strategic move.
• Wu brings over 20 years of experience in investment banking, enhancing the company's expertise.
• Focus on sourcing undervalued and disruptive investment opportunities to create shareholder value.

Negative

• None.

Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the “Company”), announced it has hired Christopher K. Wu to fill the new position of Executive Vice President of Alternative Investments of the Company and the President of Ault Alliance, Inc., one of the Company’s wholly owned subsidiaries. Mr. Wu will report to the Company’s CEO, William B. Horne.

Christopher K. Wu, Executive Vice President of Alternative Investments for Ault Global Holdings, Inc. and President of Ault Alliance, Inc. (Photo: Business Wire)

Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “With over 20 years’ experience in investment banking, financial restructuring, and principal investment, Chris is a great fit for Ault Global. We look forward to the impact Chris can make with investment sourcing, strategic planning, business development and building shareholder value. We believe his financial acumen will enhance our ability to continue to build and monetize our diversified portfolio.”

Mr. Wu stated, “I am excited to join Ault Global Holdings and I am looking forward to creating significant shareholder value from Ault Global’s investment platform by finding undervalued and disruptive investment opportunities as well as optimizing financing and growth for its operating businesses.”

About Christopher K. Wu

From April 2017 through June 30, 2021, Mr. Wu was the President, Restructuring Advisory and Senior Managing Director of Teneo Capital LLC. Prior to joining Teneo, Mr. Wu was a partner of Carl Marks Advisors for fourteen years as Co-Head of its Investment Banking Group and Member of its Management Committee. Prior to Carl Marks, Mr. Wu was an investment banker with JPMorgan for six years in New York and London focused on M&A, asset-backed securities and debt private placements. Mr. Wu is a recognized senior adviser with more than 23 years of investment banking, financial restructuring, and principal investment experience.

Mr. Wu’s experience spans many industries with a concentration in commercial real estate, insurance and financial services, alternative energy, cryptocurrencies, technology, business services, consumer products, and basic industries. Mr. Wu has closed over 125 transactions in his career encompassing a wide variety of complex transactions, including asset and corporate stock purchases, leveraged buyouts, mergers, spin-offs, carve outs as well as all forms of situational financings including debtor-in-possession, asset-based loans, construction finance, backstop equity, preferred stock, and junior capital financings.

In 2020, Mr. Wu’s work on the reorganization of CBCS Washington Street, a five-star luxury hotel in the TriBeCa district of Manhattan, was cited as Hospitality Deal of the Year by the M&A Advisor. Mr. Wu was named Financial Adviser of the Year in 2018 for his role in the Chapter 11 reorganization of Navillus Contracting, the largest concrete superstructure subcontractor in New York. He was also named M&A Banker of the Year in 2016 by the Turnaround Atlas Awards and Restructuring Banker of the Year in both 2013 and 2014. In 2013, the M&A Advisor recognized his leading role in the sale of PJ Finance as Real Estate Deal of the Year. In 2011, The Global M&A Network cited his work on FX Luxury Las Vegas I as 2011 Chapter 11 Real Estate Reorganization of the Year - Middle Markets.

Mr. Wu earned a B.A. from the University of Chicago and an M.B.A. in Finance from New York University. Mr. Wu serves as Vice Chairman of the Board of Trustees of the Institute for Career Development, a New York based non-profit agency focused on vocational rehabilitation for people with disabilities.

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/20210624005382/en/

FAQ

What is the significance of Christopher K. Wu's appointment at Ault Global (DPW)?

Christopher K. Wu's appointment as Executive Vice President of Alternative Investments is significant as it brings over 20 years of industry expertise, aimed at enhancing investment sourcing and shareholder value.

How will Christopher K. Wu impact Ault Global Holdings (DPW)?

Wu is expected to impact Ault Global by optimizing investment strategies and identifying undervalued opportunities, which could lead to increased shareholder value.

What experience does Christopher K. Wu have before joining Ault Global (DPW)?

Before joining Ault Global, Wu held senior positions at Teneo Capital and Carl Marks Advisors, with extensive experience in investment banking and financial restructuring.

What role will Christopher K. Wu serve at Ault Global Holdings (DPW)?

Wu will serve as the Executive Vice President of Alternative Investments and President of Ault Alliance, Inc., focusing on strategic planning and business development.

When was Christopher K. Wu appointed to Ault Global Holdings (DPW)?

Christopher K. Wu was appointed as Executive Vice President of Alternative Investments and President of Ault Alliance, Inc. according to a press release dated June 24, 2021.