Ault Alliance announced that after consultation with the NYSE American, the Company is proceeding with the previous announced spin-off of securities related to Imperalis Holdings and Giga-tronics, or GIGA. The Company remains committed to issuing to its stockholders 140M shares of TurnOnGreen common stock and warrants to purchase an additional 140 million shares of TurnOnGreen common stock and 7 million shares of GIGA common stock beneficially owned by Ault Alliance. The Company will announce the record dates and payment dates of the planned dividends as it moves through the processes of filing registration statements and obtaining final regulatory approvals. Milton "Todd" Ault, III, the Company’s Executive Chairman, stated, "We acknowledge stockholders have been concerned about the low trading price of the Company’s common stock and have been waiting for some time to receive each of these special stock dividends. The Company has now received regulatory clarity and looks forward to working with the NYSE American to assure a smooth transition and completion of each special dividend." Ault concluded, "The Company is committed to pursuing each special dividend as soon as practicable and upon receiving the date of effectiveness of the registration statements, plans to proceed with the issuance of each special dividend."
Published first on TheFly
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