share_log

Ault Alliance | SC TO-C: Written communication relating to an issuer or third party tender offer

SEC announcement ·  Jan 5 13:00
Summary by Futu AI
Ault Alliance, Inc., a diversified holding company, has announced the postponement of its exchange offer originally planned to commence in 2024. The offer involved exchanging a minimum of 20 million and a maximum of 60 million shares of its common stock for up to $15 million aggregate liquidation preference of its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock. The postponement is due to the company's inability to obtain a quorum at its 2023 Annual Meeting of Stockholders, which was adjourned as a result. The company aims to address the matters from the Annual Meeting before initiating the offer to avoid potential administrative complications. The commencement of the offer is now uncertain and will be subject to regulatory approval and customary closing conditions. Ault Alliance...Show More
Ault Alliance, Inc., a diversified holding company, has announced the postponement of its exchange offer originally planned to commence in 2024. The offer involved exchanging a minimum of 20 million and a maximum of 60 million shares of its common stock for up to $15 million aggregate liquidation preference of its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock. The postponement is due to the company's inability to obtain a quorum at its 2023 Annual Meeting of Stockholders, which was adjourned as a result. The company aims to address the matters from the Annual Meeting before initiating the offer to avoid potential administrative complications. The commencement of the offer is now uncertain and will be subject to regulatory approval and customary closing conditions. Ault Alliance will provide details and instructions to stockholders through the Offer to Exchange and related documents, which will be filed with the SEC and distributed to stockholders. The offer will be made in compliance with the exemption from registration requirements under Section 3(a)(9) of the Securities Act of 1933. The company emphasizes that the press release is for informational purposes only and does not constitute an offer to sell or exchange securities. Ault Alliance operates in various sectors, including data center operations, artificial intelligence ecosystems, and lending services, among others.

This announcement is a separate document:

Doc 1

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.