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Ault Alliance Secures $44 Million Investment From Ault & Company
Ault Alliance, Inc. announced that Ault & Company, Inc., an affiliate, has invested $44.0 million in the company under a Securities Purchase Agreement. This investment comprises 44,000 shares of Series C convertible preferred stock and warrants to purchase approximately 13.0 million shares. The agreement allows for further investment up to $75.0 million. Milton “Todd” Ault, III, Executive Chairman of Ault Alliance and CEO of Ault & Company, expressed confidence in the company's growth trajectory, with projected annual revenue exceeding $200 million. Ault & Company sees potential in Ault Alliance's core businesses: Sentinum data centers, Circle 8 crane rentals, and investment and lending activities.
The partnership reflects shared optimism for Ault Alliance's future, aiming for significant advances in its business sectors. Ault Alliance focuses on acquiring undervalued businesses and disruptive technologies globally, operating in diverse industries such as data centers, Bitcoin mining, metaverse platforms, oil exploration, and more. The collaboration with Ault & Company is expected to enhance shareholder value and foster fruitful advancements in various sectors. More information is available on Ault Alliance's public filings and press releases accessible through their website or SEC filings.
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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