Ault Global Sells Additional Shares of Series C Convertible Preferred Stock and Warrants

On December 13, 2024, Ault Global’s subsidiary, Hyperscale Data, Inc., made a significant financial move by selling 500 shares of Series C convertible preferred stock and associated warrants to Ault & Company, Inc. The initial agreement dates back to November 6, 2023, and has now culminated in the purchase of a total of 48,100 shares of Series C Convertible Preferred Stock and related warrants for a substantial sum of $48.1 million. The agreement allows for potential further purchases totaling up to $75 million of Series C Convertible Preferred Stock and Warrants in multiple closings.

Highlighting a strategic alignment, the purchaser, Ault & Company, Inc., is identified as an affiliate of the company. Specific details regarding the sale were documented in a prior Form 8-K filing with the Securities and Exchange Commission dated November 7, 2023. The recent transaction can be seen as part of a continued financial partnership between the two entities.

Under Item 3.02 of the report, the unregistered sales of equity securities were discussed, citing that the Series C Convertible Preferred Stock and associated warrants were offered and sold to the purchaser relying on an exemption from the registration requirements per Section 4(a)(2) under the Securities Act of 1933.

Looking into the financial statements and exhibits (Item 9.01), the company has provided necessary disclosures, including the presentation of the document in Inline XBRL and an Interactive Data File.

The move to sell additional shares of Series C Convertible Preferred Stock and Warrants signifies a continued financial strategy and partnership between Hyperscale Data, Inc. and Ault & Company, Inc. The significant financial involvement indicates a mutual interest in strengthening financial positions and potential future collaboration in the realm of preferred stock holdings. This development showcases a continued growth trajectory and alignment of strategic interests between the involved parties.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ault Global’s 8K filing here.

About Ault Global

Ault Global Holdings, Inc engages in the design, development, manufacture, and sale of customized and flexible power system solutions for the medical, military, telecom, and industrial markets. It operates through the following segments: DPC, DPL, Enertec, Digital Farms, and I.AM. The DPC segment includes Microphase, Coolisys, Power-Plus, and DP Lending.