LAS VEGAS--(BUSINESS WIRE)--$AGREE #24_percent_of_Series_D_Preferred_returned--Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”), today announced that it has returned to treasury 101,362 shares of its 13% Series D cumulative redeemable perpetual preferred stock, which have a stated value of $2.5 million (the “Preferred Shares”) and 679,969 shares of its common stock (collectively with the Preferred Shares, the “Shares”). The retirement of the Preferred Shares reduces the Company’s annual dividend payable by $0.3 million. The Shares were recently acquired by the Company’s wholly owned subsidiary, Ault Lending, LLC, upon the liquidation of a related party hedge fund.
Milton “Todd” Ault III, the Company’s Executive Chairman, stated, “The return to treasury of the Shares is a benefit to all stockholders, reducing the Company’s outstanding capital stock. The Preferred Shares represented nearly 24% of the outstanding shares of that series of preferred stock, and the significant reduction in preferred dividends payable bolsters the financial health of the Company going forward. Additionally, the recently announced highest single monthly run rate from Bitcoin mining operations of the Company’s wholly owned subsidiary Sentinum, Inc. (“Sentinum”) is a direct result of our focused and efficient operational strategies and our commitment to enhancing the Company’s financial stability. Looking ahead, we anticipate even more achievements in 2024 for Sentinum, driven by the favorable Bitcoin market trends and the planned strategic relocation of approximately 6,500 of our mining rigs to Sentinum’s self-managed Montana facility.”
For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or available at www.sec.gov.
About Ault Alliance, Inc.
Ault Alliance, 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, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.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.Ault.com.
Contacts
Ault Alliance Investor Contact:
IR@Ault.com or 1-888-753-2235