Ault Alliance Announces Update on Dividend of Shares of TurnOnGreen and Giga-tronics to Its Stockholders
Both subsidiaries have filed their respective registration statements
LAS VEGAS–(BUSINESS WIRE)–$AP #AULT—Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company formerly known as BitNile Holdings, Inc. (“Ault Alliance” or the “Company”), announced today that both of its subsidiaries, Imperalis Holdings, Inc. (at times referred to as TurnOnGreen) (“TurnOnGreen”) and Giga-tronics Incorporated (“GIGA”) have filed their respective registration statements on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) related to the previous announced spin-off of securities. The Company invites those interested in learning more to read each of the registration statements at the following links:
TurnOnGreen: https://www.sec.gov/ix?doc=/Archives/edgar/data/1349706/000121465923001835/r1216221s1a1.htm, and
On February 6, 2023, the Company announced it had received regulatory clarity and is committed to issuing to its stockholders 140 million shares of TurnOnGreen common stock and warrants to purchase an additional 140 million shares of TurnOnGreen common stock and 7 million shares of GIGA common stock beneficially owned by Ault Alliance. Upon receiving notice of effectiveness of the respective registration statements and obtaining final regulatory approvals, the Company will announce the record dates and payment dates of the planned dividends.
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “The teams at TurnOnGreen and GIGA have each filed their registration statements on Form S-1 with the SEC. This is a key step in proceeding with these two previously announced spin-offs of securities. We acknowledge stockholders have been waiting for some time to receive each of these special stock dividends and we are pleased to report progress. The Company remains committed to pursuing each special dividend as soon as practicable and upon receiving the date of effectiveness of the registration statements, plans to proceed with the issuance of each special dividend.”
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 https://www.ault.com/ or available at https://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 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; https://www.ault.com/.
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 https://www.sec.gov/ and on the Company’s website at https://www.ault.com/.
[email protected] or 1-888-753-2235