Ault Alliance Reports Receiving $44M, to Date, Under November 2023 Securities Purchase Agreement

DENVER, Colo., Apr 19, 2024 ( Ault Alliance, Inc. (NYSE:AULT) reported that its affiliate, Ault & Company, has purchased an aggregate of 44,000 shares of Series C convertible preferred stock, for a total investment of $44 million, per its November 2023 Securities Purchase Agreement.

Milton “Todd” Ault, III, Ault’s Executive Chairman and CEO, stated, “This strategic infusion of capital into the Company underscores our strong confidence in the growth trajectory and future prospects of Ault Alliance. This investment not only strengthens our balance sheet but also enhances our ability to accelerate our strategic initiatives and expand our market presence. When I started this journey with the Company in 2017, we had just reported less than $8 million in annual sales, and today we are projecting annual revenue in excess of $200 million for the current fiscal year as we focus on our core businesses: Sentinum data centers; Circle 8 crane rentals; and investing and lending. We believe our Sentinum business is well positioned for growth with the increasing demand for power in the artificial intelligence data center space. Ault & Company believes in the Company’s plans for growth and expects to make additional investments to support these key businesses.

“This partnership with Ault & Company reflects a shared vision for the future of Ault Alliance. We are poised to make significant advances in our business sectors and look forward to a fruitful collaboration. We are excited about the opportunities this partnership creates and are confident that it will lead to enhanced value for our stockholders.”

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