Ault Alliance announced that the record date for the stock dividend for the spinoff of Imperalis Holding Corp, d/b/a TurnOnGreen, which was previously set for April 20, has been cancelled until further notice. On April 7 the Company’s Board of Directors declared a pro rata dividend to the stockholders of Ault Alliance of 140M shares of common stock of TurnOnGreen, which represent approximately 81% of the outstanding shares of TurnOnGreen common stock, and warrants to purchase an additional 140M shares of TurnOnGreen common stock. The Company remains intent on effectuating the Distribution as soon as it may do so in compliance with federal securities compliance and appropriate regulatory approval.
Published first on TheFly
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