Ault Alliance, Inc. has announced the offering of $2,000,000 in Convertible Promissory Notes, with the potential issuance of up to 5,920,420 shares of common stock upon conversion of the notes. The offering is directed to two institutional investors under a Note Purchase Agreement, with the notes being issued at an original issue discount of 10%, resulting in an aggregate purchase price of $1,800,000. The notes will accrue interest at 6% per annum, increasing to 12% in the event of default. Conversion of the notes is permitted following NYSE approval, at a price of $0.35 per share. The company has the right to extend the maturity date from June 12, 2024, to September 12, 2024, with a principal increase of 5%. No proceeds will be received from the issuance of conversion shares upon...Show More

Ault Alliance, Inc. has announced the offering of $2,000,000 in Convertible Promissory Notes, with the potential issuance of up to 5,920,420 shares of common stock upon conversion of the notes. The offering is directed to two institutional investors under a Note Purchase Agreement, with the notes being issued at an original issue discount of 10%, resulting in an aggregate purchase price of $1,800,000. The notes will accrue interest at 6% per annum, increasing to 12% in the event of default. Conversion of the notes is permitted following NYSE approval, at a price of $0.35 per share. The company has the right to extend the maturity date from June 12, 2024, to September 12, 2024, with a principal increase of 5%. No proceeds will be received from the issuance of conversion shares upon note conversion. The common stock of Ault Alliance is traded on the NYSE American under the symbol 'AULT', with the last reported sale price being $0.4441 per share as of March 11, 2024. The expected delivery date for the notes is on or about March 12, 2024, subject to customary closing conditions. The company reserves the right to amend the prospectus supplement from time to time as required.