Ault anticipates utilizing previously authorized stock buyback plan

Ault Alliance announced that it currently anticipates utilizing the stock repurchase program that was previously authorized by its Board of Directors in December 2021. The Repurchase Program would start no earlier than two business days after the filing of the company’s Form 10-Q for the quarter ending March 31, 2024. Under the Repurchase Program, the Board authorized the company to repurchase up to $50M of common stock, which repurchases may be made on a discretionary basis from time to time through a variety of methods, including open market repurchases. The company intends to enact a trading plan for the repurchases in compliance with the Rule 10b5-1 of the Securities Exchange Act of 1934. Milton “Todd” Ault III, Founder and Executive Chairman of Ault Alliance, commented on the Repurchase Program, saying, “While the Company has explored methods previously to buy back common stock from stockholders, including the exchange offers announced in March 2023, and November 2023, the Company ultimately determined that the most efficient way to execute a buyback program was to work through its existing and approved share repurchase program of up to $50M worth of common stock. Overall, I believe that the Repurchase Program is a prudent use of capital and is attractive to management as it believes that the Company’s common stock is severely undervalued.”