Ault Inc. announces initial distribution of TurnOnGreen securities

Ault Alliance announced an update on its distribution related to securities of Imperalis Holding Corp., d/b/a TurnOnGreen. In the Initial Distribution, stockholders of the company will receive forty shares of TurnOnGreen common stock and warrants to purchase forty shares of TurnOnGreen common stock for each share of common stock of the company that they own on the record date. Based on yesterday’s closing price, the market value of only the forty shares of TurnOnGreen common stock would result in a dividend of $2.12 per share. The record date for the Initial Distribution has been set for June 26. Stockholders who own the company’s stock on that date will be eligible to receive the TOG Securities. Further, the company has set a payment date of no later than July 10, subject to adjustment.