Ault Alliance, Inc. Regains Compliance with NYSE American Continued Listing Standards
July 05 2023 - 5:30AM
Business Wire
Ault Alliance, Inc. (NYSE American: AULT) a diversified holding
company (“AAI,” or the “Company”) announced today
that on July 3, 2023, the NYSE American LLC (“NYSE
American”) notified AAI that the Company has successfully
regained compliance with the NYSE American’s continued listing
standards related to price per share set forth in Section
1003(f)(v) of the NYSE American Company Guide (the “Company
Guide”).
As previously disclosed, on November 2, 2022, the Company
received a letter (collectively, the “Deficiency Letter”)
from the NYSE American stating that the Company was not in
compliance with the continued listing standards set forth in
Section 1003(f)(v) of the Company Guide as a result of the
then-existing low trading price of the Company’s common stock. As
set forth in the Deficiency Letter, the continued listing of the
Company’s common stock on the NYSE American was predicated on the
Company demonstrating sustained price improvement within a
reasonable period of time such as by conducting a reverse stock
split of its shares of common stock by no later than May 2, 2023.
As a result of management’s efforts to regain compliance, the NYSE
American has informed the Company that it is now in full compliance
with the NYSE American’s continued listing standards set forth in
Part 10 of the Company Guide and that the “.BC” designation will be
removed from the “AAI” trading symbol effective as of the
commencement of trading on July 5, 2023. In addition, the Company
will be removed from the list of NYSE American noncompliant issuers
on the exchange’s website.
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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