Ault Alliance terminates at-the-market equity offering program

Ault Alliance has terminated its "at-the-market" equity offering program relating to sales of common stock with Ascendiant Capital Markets, LLC, as sales agent. The Company elected to terminate the ATM Facility to limit uncertainty and unfavorable dilution for its stockholders. Although the Company initiated the 5-day termination process of the ATM Facility with the Agent, with the official termination to take effect on March 17, 2023, the Company will make no further sales of shares of its common stock under the ATM Facility. Upon termination, the Company will have no further obligations related to the ATM Facility. Upon the announcement of the initiation of the ATM Facility’s termination process, the Company had sold 317.9 million shares of common stock and raised approximately $176.6 million in gross proceeds, or approximately $0.56 per share.