Ault Alliance Seeks to Capitalize on Strong Market Interest and Sell Prime St. Petersburg Property
June 15 2023 - 5:30AM
Business Wire
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company (“Ault Alliance” or the “Company”), announced
today that it intends to take advantage of the growing demand and
market interest by selling its centrally located, multifamily
property in St. Petersburg, Florida, previously acquired through
its subsidiary, Ault Global Real Estate Equities, Inc.
(“AGREE”) in 2021 for $15.5 million. The prime location of
the property, between Mirror Lake and Tampa Bay, with pedestrian
access to Tampa Bay, along with its proximity to retail,
hospitality, and office experiences makes it an attractive prospect
for investors.
Milton “Todd” Ault, III, the Company’s Founder and Executive
Chairman, stated, “Our strategic decision to seek a sale of this
property stems from recognizing the impressive market interest and
value the property holds. This is a compelling opportunity to
generate a profit from this property, from which the Company will
repay and reduce outstanding debt. Such a sale would bolster the
Company’s balance sheet and support our commitment towards
improving profitability and cashflow for the remainder of 2023. We
are confident this decision aligns with the best interests of the
Company and its stockholders.”
For more information on Ault Alliance and its subsidiaries, the
Company recommends that stockholders, investors and any other
interested parties read the Company’s public filings and press
releases available under the Investor Relations section at
www.ault.com or available at www.sec.gov.
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company pursuing
growth by acquiring undervalued businesses and disruptive
technologies with a global impact. Through its wholly and
majority-owned subsidiaries and strategic investments, Ault
Alliance owns and operates a data center at which it mines Bitcoin
and provides mission-critical products that support a diverse range
of industries, including metaverse platform, oil exploration, crane
services, defense/aerospace, industrial, automotive,
medical/biopharma, consumer electronics, hotel operations and
textiles. In addition, Ault Alliance extends credit to select
entrepreneurial businesses through a licensed lending subsidiary.
Ault Alliance’s headquarters are located at 11411 Southern
Highlands Parkway, Suite 240, Las Vegas, NV 89141;
www.ault.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements generally include
statements that are predictive in nature and depend upon or refer
to future events or conditions, and include words such as
“believes,” “plans,” “anticipates,” “projects,” “estimates,”
“expects,” “intends,” “strategy,” “future,” “opportunity,” “may,”
“will,” “should,” “could,” “potential,” or similar expressions.
Statements that are not historical facts are forward-looking
statements. Forward-looking statements are based on current beliefs
and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made,
and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8-K. All filings are available at www.sec.gov and on the Company’s
website at www.ault.com.
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