On June 20, 2024, Ault Alliance, Inc., a Delaware-based corporation, entered into a significant financial agreement with Orion Equity Partners, LLC. The agreement, known as the ELOC Purchase Agreement, grants Ault Alliance the right to direct Orion to purchase up to $25 million of its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock over a 36-month period. The agreement stipulates that Ault Alliance can issue advance notices to Orion to purchase shares up to a specified maximum amount, which is calculated as 40% of the average daily traded value of the Preferred Shares preceding the notice. The number of shares Ault Alliance can sell to Orion is subject to an ownership limitation clause. Ault Alliance maintains control over the timing and amount of any...Show More

On June 20, 2024, Ault Alliance, Inc., a Delaware-based corporation, entered into a significant financial agreement with Orion Equity Partners, LLC. The agreement, known as the ELOC Purchase Agreement, grants Ault Alliance the right to direct Orion to purchase up to $25 million of its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock over a 36-month period. The agreement stipulates that Ault Alliance can issue advance notices to Orion to purchase shares up to a specified maximum amount, which is calculated as 40% of the average daily traded value of the Preferred Shares preceding the notice. The number of shares Ault Alliance can sell to Orion is subject to an ownership limitation clause. Ault Alliance maintains control over the timing and amount of any sales, while Orion is obligated to comply with purchase requests as directed by Ault Alliance. The agreement also includes provisions that prevent Orion from engaging in short-selling or hedging of Ault Alliance's common stock. Additionally, Ault Alliance is required to file a Registration Statement with the SEC for the resale of the Preferred Shares by Orion and ensure its effectiveness within a set timeframe. As part of the agreement, Ault Alliance will issue Preferred Shares to Orion as a commitment fee, with specific issuance dates tied to the effectiveness of the Registration Statement. The agreement may be terminated by Ault Alliance under certain conditions, and will automatically terminate once the full $25 million of shares are purchased or at the end of the 36-month term, whichever comes first.