Ault Alliance Distributed 40 Shares of Common Stock and
Warrants to Purchase 40 Shares of Common Stock of Imperalis Holding
Corp. on July 10, 2023 and an Additional 15 Such Shares and
Warrants on August 7, 2023
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company, (“Ault Alliance” or the “Company”), hereby announces that
the second partial distribution (the “Second Distribution”)
related to securities of Imperalis Holding Corp. (OTC: IMHC), d/b/a
TurnOnGreen, Inc. (“TurnOnGreen”) was completed on August 7,
2023. In the Second Distribution, stockholders of the Company
received fifteen (15) shares of TurnOnGreen common stock and
warrants to purchase fifteen (15) shares of TurnOnGreen common
stock (the “TOG Securities”) for each share of common stock
of the Company that they owned on July 24, 2023, the record date
for the Second Distribution.
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 a final distribution (the “Final
Distribution”).
The Company intends, within the third quarter, to set a per
share ratio of TOG Securities to be distributed as well as the
record and payment dates for the Final Distribution, in which the
remaining 24,908,345 TOG Securities will be distributed.
“We are pleased to have completed the Second Distribution to our
stockholders,” said Milton “Todd” Ault III, the Company’s Executive
Chairman. He added that “We look forward to completing the Final
Distribution and demonstrating to not only our stockholders but to
the public in general that we will soon have fulfilled our publicly
issued commitment regarding the TOG Securities. Additionally, we
intend to assist TurnOnGreen in its application to list its shares
of common stock on a national securities exchange as soon as it
meets either Nasdaq’s or the NYSE American’s listing criteria.”
This press release is for informational purposes only and shall
not constitute an offer to sell or exchange nor the solicitation of
an offer to buy shares of the Company’s common stock or any other
securities of the Company. The Second Distribution was not made to
any person in any jurisdiction in which the offer, solicitation or
sale is unlawful. Any distribution of the shares of TurnOnGreen
common stock and warrants was and will be made only by means of the
applicable registration statement and the prospectus included
therein.
For more information on Ault Alliance and its subsidiaries, Ault
Alliance recommends that stockholders, investors, and any other
interested parties read Ault Alliance’s public filings and press
releases available under the Investor Relations section at
https://www.ault.com/ or available at https://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 offers colocation and hosting services for the emerging
artificial intelligence ecosystems and other industries, 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.
About Imperalis Holding Corp.
TurnOnGreen designs and manufactures innovative, feature-rich,
and top-quality power products for mission-critical applications,
lifesaving and sustaining applications spanning multiple sectors in
the harshest environments. The diverse markets that TurnOnGreen
serve include defense and aerospace, medical and healthcare,
industrial, telecommunications, and e-Mobility. TurnOnGreen brings
decades of experience to every project, working with its clients to
develop leading-edge products to meet a wide range of needs.
TurnOnGreen’s headquarters are located in Milpitas, CA;
www.TurnOnGreen.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 https://www.sec.gov/ and on the
Company’s website at https://www.ault.com/.
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