Benzinga | Feb 17, 2021 06:32AM EST

Ault Global Holdings Announces Amended 'At The Market' Offering Of Common Stock For Aggregate Gross Proceeds Of $125M, Inclusive Of Previously Authorized $50M

Ault Global Holdings, Inc. (NYSE:DPW) a diversified holding company (the "Company"), announced today that it has amended the terms of its previously announced "at-the-market" equity offering program under which it may sell, from time to time, shares of its common stock for aggregate gross proceeds of up to $125,000,000, inclusive of the previously authorized $50,000,000. The shares of common stock will continue to be offered through Ascendiant Capital Markets, LLC, acting in its capacity as sales agent (the "Agent").

Pursuant to an amended sales agreement with the Agent, sales of shares of the Company's common stock may be made in transactions that are deemed to be "at-the-market" offerings, including sales made by means of ordinary brokers' transactions on the NYSE American or otherwise at market prices prevailing at the time of sale or as agreed to with the Agent.

The Company intends to use the net proceeds from the "at-the-market" equity offering, if any, for the financing of possible acquisitions of companies and technologies, financing of our emerging electric vehicle charger and energy storage businesses, expansion of our data center business or other business expansions and investments and for working capital and general corporate purposes, which may include the repayment, refinancing, redemption or repurchase of future indebtedness or capital stock. The Company does not have agreements or commitments for any specific acquisitions at this time.

The shares of common stock described above are being offered pursuant to a shelf registration statement (File No. 333-251995) which became effective on January 20, 2021. Such shares of common stock may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Before making an investment in these securities, potential investors should read the prospectus supplement and the accompanying prospectus for more complete information about the Company and the "at-the-market" equity offering program. Potential investors may obtain these documents for free by visiting EDGAR on the U.S. Securities and Exchange Commission's website at www.sec.gov. Alternatively, potential investors may contact the Agent, who will arrange to send them these documents: Ascendiant Capital Markets, LLC, Attention: Jennifer Martin, 4 Park Plaza, Suite 1950, Irvine, CA 92614, telephone: (949) 259-4900, email: jmartin@ascendiant.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.