Benzinga | Sep 21, 2021 02:16PM EDT

Cosmos Holdings Secures $5.5M Investment From Ault Global

* Ault Global Holdings Inc (NYSE:DPW) subsidiary entered into agreements for investments of ~$5.5 million in pharmaceutical company Cosmos Holdings, Inc. (OTC:COSM).

* The first investment, a convertible promissory note, resulted in immediate net proceeds of ~$500,000.

* The second investment for $5 million in Series A Preferred Stock is subject to Cosmos's common stock commencing trading on the Nasdaq Stock Market, along with the fulfillment of other closing conditions.

* "We are delighted to make this strategic investment in Cosmos given their scalable business model and significant market opportunity. We believe this investment will help accelerate the growth of their business and support their plans to list on Nasdaq," commented Ault Global's Executive Chairman, Milton Ault.

* Price Action: DPW shares are trading higher by 0.36% at $2.25 on the last check Tuesday.