Ault Inc. reports final distribution of TOG securities

Ault Alliance announced an update on its final distribution related to securities of TurnOnGreen, Inc., formerly Imperalis Holding Corp. In the initial distribution, Ault Alliance stockholders received forty shares of TurnOnGreen common stock and warrants to purchase forty shares of TurnOnGreen common stock and in the second distribution, stockholders of the company received fifteen TOG Securities for each share of common stock of the company that they owned on the record date. The company distributed 58,686,480 TOG Securities in the initial distribution and another 56,405,175 TOG Securities in the second distribution, for an aggregate of 115,091,655 TOG Securities distributed, leaving another 24,908,345 TOG Securities to be distributed in the Final Distribution. The company has set a record date of April 15, 2024 and a payment date of April 29, 2024 for the Final Distribution, in each case subject to adjustment. Based on the estimated number of shares of common stock of the company to be issued and outstanding on the Record Date, each stockholder of the company will receive approximately 0.71 TOG Securities for each share of AAI Common Stock owned on the Record Date. Based on the closing price of AAI Common Stock of $0.3669 as of the COB on Thursday, March 21, 2024, the market value of the 0.71 shares of TurnOnGreen common stock and warrants to purchase 0.71 shares of TurnOnGreen common stock would result in a dividend of approximately $0.019 per share of AAI Common Stock.