• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Upcoming Events
    • TWS, Singapore (July 28-29, 2025)
    • WFIS, Philippines (September 23-24, 2025)
    • Forex Expo Dubai (October 6-7, 2025)
    • Merge Madrid (October 7-9, 2025)
    • European Blockchain Convention, Barcelona (October 15-17, 2025)
    • Blockchain Futurist Conference, Florida (November 5-6, 2025)
    • WFIS, Indonesia (November 25-26, 2025)
  • Past Events
    • Blockchain Life
    • BlockShow Europe
    • Event Horizon

Crypto Reporter

Online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies

Join us on Telegram: https://t.me/crypto_reporter
  • News
    • News Feed
    • Cryptocurrencies
      • Bitcoin
      • Altcoins
    • Payment solutions
    • Exchanges
      • Binance
      • bitFlyer
      • Bitfinex
      • CBOE
      • CME
      • Coinbase
      • Coincheck
      • Coinfloor
      • Nasdaq
      • Poloniex
    • Regulations
      • Australia
      • Belarus
      • China
      • Europe
      • India
      • Iran
      • Israel
      • Japan
      • North Korea
      • Philippines
      • Portugal
      • Russia
      • South Korea
      • Thailand
      • Turkey
      • Venezuela
      • Vietnam
      • United States
    • Blockchain platforms
    • Crypto news in brief
    • Stats & trends
    • Reviews
      • Ambrosus
      • ATN
      • Dash
      • Green Power Exchange
      • Power Ledger
      • ShapeShift
      • Waltonchain
      • Cryptocurrency market capitalization can top 4 trillion USD, under conservative estimates
    • Opinion
    • Sponsored
  • Press Releases

Ault Alliance Announces Postponement of the Record Date for the Distribution of Securities of Imperalis Holding

April 19, 2023 By Business Wire

Ault Alliance still intends to distribute to its stockholders 140 million shares and warrants to purchase an additional 140 million shares of Imperalis


LAS VEGAS--(BUSINESS WIRE)--$AP #140_million_shares_common--Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance” or the “Company”), announced today that the record date for the stock dividend for the spinoff of Imperalis Holding Corp, d/b/a TurnOnGreen, Inc. (“TurnOnGreen”), which was previously set for April 20, 2023, has been cancelled until further notice. On April 7, 2023, the Company’s Board of Directors declared a pro rata dividend to the stockholders of Ault Alliance of (i) 140 million shares of common stock of TurnOnGreen, which represent approximately 81% of the outstanding shares of TurnOnGreen common stock, and (ii) warrants to purchase an additional 140 million shares of TurnOnGreen common stock (the “Distribution Securities” and the transaction, the “Distribution”).

Federal securities laws require that the Distribution Securities have been registered for distribution prior to the date set therefor. At present, the Company does not believe that the registration statement filed in connection therewith will have been declared effective by the Securities Exchange Commission by April 20, 2023, the previously announced record date. Further, the Company intends to seek approval of a reverse split of its common stock at a meeting to be held on May 15, 2023, which reverse split, if approved by the Company’s stockholders, must be implemented before a new record date is set.

The Company remains intent on effectuating the Distribution as soon as it may do so in compliance with federal securities compliance and appropriate regulatory approval. The Company will update its stockholders with respect to the Distribution when circumstances so permit.

The Company’s Founder and Executive Chairman, Milton "Todd" Ault, III said, “We are committed to completing our announced distribution of securities in TurnOnGreen. The delay is fundamentally driven by two factors. These factors were the result of unforeseen obstacles in having the registration statement declared effective coupled with the challenge of a potential reverse stock split, which would impact the Distribution ratio and cause problems for the Depository Trust Company. Despite these challenges, I remain optimistic that both these barriers will be timely dealt with and the resulting dividend will achieve the desired outcome for the Company and its stockholders.”

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 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.

About TurnOnGreen

Imperalis Holding Corp., d/b/a TurnOnGreen, Inc., designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications, lifesaving and sustaining applications spanning multiple sectors in the harshest environments. The diverse markets we serve include defense and aerospace, medical and healthcare, industrial, telecommunications and e-Mobility. TurnOnGreen brings decades of experience to every project, working with our clients to develop leading-edge products to meet a wide range of needs. TurnOnGreen’s headquarters are located at Milpitas, CA; www.Turnongreen.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

IR@Ault.com or 1-888-753-2235

Filed Under: News Feed

Primary Sidebar

Follow Us

Press Releases

Nexchain Builds Presale Hype With Airdrop, $5M Rewards & 50% Bonus as BlockDAG Hits Milestone

July 14, 2025

Nexchain & Remittix Top 2025 Presales With $5M Rewards, Airdrop & 50% Bonus Offer

July 14, 2025

Hex Trust CEO Alessio Quaglini Appointed to Hong Kong SAR Government’s Task Force on Promoting Web3 Development

July 14, 2025

Wanchain powers VeChain’s expansion into cross-chain DeFi

July 14, 2025

Marinade Appoints Zalika Headley as General Counsel to Advance Institutional Growth

July 14, 2025

TWS Conference

Forex Expo Dubai

Merge Madrid

Futurist Conference

Footer

Crypto Reporter is an online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies
About us
Contact us
Submit press-release

Search

2017-2025 Crypto Reporter