Ault Global (NYSEAMERICAN:DPW) Announces Sale of Series C Convertible Preferred Stock and Warrants

Ault Global, previously known as Hyperscale Data, Inc., made significant financial transactions on November 21, 2024. The company sold a substantial amount of Series C Convertible Preferred Stock and associated warrants to Ault & Company, Inc., according to a Form 8-K filing with the Securities and Exchange Commission (SEC). The sales were conducted under a Securities Purchase Agreement initiated on November 6, 2023.

The agreement outlined the sale of 400 shares of Series C Convertible Preferred Stock along with warrants to purchase 118,256 shares of the company’s common stock for $400,000 on November 19, 2024. Subsequently, on November 21, 2024, Ault Global sold an additional 50 shares of Series C Convertible Preferred Stock and warrants to purchase 14,782 shares of common stock for $50,000. With these transactions, Ault Global has now sold a total of 46,980 shares of Series C Convertible Preferred Stock and accompanying warrants to purchase 13,889,136 shares of common stock, amounting to $46.98 million.

The Purchaser involved in these sales is an affiliate of Ault Global. The terms of the agreement, Series C Convertible Preferred Stock, and Series C Warrants were disclosed in detail in a prior Form 8-K filed on November 7, 2023.

These transactions were made in compliance with unregistered sales of equity securities, as the company utilized an exemption from registration requirements under Section 4(a)(2) of the Securities Act of 1933.

Following this report, Ault Global expects the Purchaser may purchase up to $75 million of Series C Convertible Preferred Stock and Warrants through subsequent closings. The closing date of the transactions aligns with the filing submitted on November 21, 2024. This news is pivotal for Ault Global’s financial maneuvering and strategic acquisitions within the market.

For more detailed information about the transactions and terms of the agreement, interested parties are encouraged to review the full Form 8-K filed by Ault Global with the SEC on November 21, 2024.

This news update showcases Ault Global’s strategic financial decisions and ongoing business expansion in the market. The company remains focused on its growth trajectory and financial well-being.

The financial figures and additional details of Ault Global’s transactions and agreements are available in the public filing for stakeholders and interested investors to review thoroughly.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ault Global’s 8K filing here.

Ault Global Company Profile

Ault Global Holdings, Inc engages in the design, development, manufacture, and sale of customized and flexible power system solutions for the medical, military, telecom, and industrial markets. It operates through the following segments: DPC, DPL, Enertec, Digital Farms, and I.AM. The DPC segment includes Microphase, Coolisys, Power-Plus, and DP Lending.