Ault Alliance Secures $44 Million Investment From Ault & Company

 


Ault Alliance, Inc. (NYSE American: AULT) disclosed a significant $44.0 million investment by its affiliate, Ault & Company, Inc., as per the Securities Purchase Agreement signed on November 6, 2023. This investment comprises the acquisition of 44,000 shares of Series C convertible preferred stock and warrants, with a potential investment cap of $75.0 million under the amended Agreement. Milton “Todd” Ault, III, the Executive Chairman and CEO of Ault & Company, highlighted the strategic importance of this capital infusion, emphasizing its role in bolstering the company's balance sheet and accelerating strategic initiatives. He underscored the remarkable growth trajectory of Ault Alliance, with projected annual revenue surpassing $200 million for the current fiscal year, driven by core businesses like Sentinum data centers. This partnership signifies a shared vision for the future, positioning Ault Alliance for substantial advancements across various sectors as it continues to pursue growth by acquiring undervalued businesses and disruptive technologies globally.

Read More - https://www.techdogs.com/tech-news/business-wire/ault-alliance-has-received-an-investment-of-44-million-to-date-from-ault-company-under-the-november-2023-securities-purchase-agreement

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