Ault terminates ATM offering ’embarks on path to corporate restructuring’

Ault Alliance announced the termination of its at-the-market issuance sales agreement for sales of its common stock or ATM and also announced its commitment to not utilize an ATM for sales of its common stock for not only the duration of 2024 but the foreseeable future. The Company may, however, consider issuing non-convertible debt to continue to fund its operations until its revenues can cover such costs. Further, the Company plans to restructure ownership of its operating businesses to create a more simple, efficient and understandable organizational chart. Once complete, the Company will have two reporting segments, consisting of Sentinum and Ault Capital Group. Sentinum runs data center operations, including bitcoin mining, while Ault Capital contains all other entities such as Circle 8 Crane Services, Giga-Tronics Incorporated, Ault Lending, and other legacy entities. Milton “Todd” Ault III, Founder and Executive Chairman of Ault Alliance, provided comments on the Company’s strategic direction, emphasizing the importance of today’s announcement, “Today marks a pivotal moment for Ault Alliance as we conclude our ATM program and fundamentally reevaluate our financing strategy. We have accumulated a nearly $400M asset base and will continue to work on bridging the gap between our public valuation and the true value of the underlying assets …Our focus now intensifies on Sentinum and Ault Capital, aiming to fuel their expansion through thoughtful and strategic financing methods, which include the ongoing funding from Ault & Company through the Series C preferred stock investment…”