Ault Alliance, Inc. (NYSE American: AULT) disclosed a $44.0 million investment by its affiliate, Ault & Company, Inc., pursuant to a 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, expressed confidence in Ault Alliance's growth trajectory, emphasizing the strategic significance of the capital infusion. He highlighted the company's projected revenue surge from less than $8 million to over $200 million for the current fiscal year, driven by core businesses like Sentinum data centers. Ault Alliance aims to leverage this partnership to make substantial advancements across various business sectors, continuing its pursuit of growth by acquiring undervalued businesses and disruptive technologies with global impact.
Ault Alliance Secures $44 Million Investment From Ault & Company
1 min read
22 April
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