Ault Alliance Announces Results of Annual Meeting of Stockholders
January 12 2024 - 3:30PM
Business Wire
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company (“Ault Alliance,” or the “Company”),
announced today the voting results from the annual meeting of
stockholders (the “Meeting”) held today, January 12, 2024.
At the Meeting, the stockholders voted on three proposals, each of
which is described in more detail in the Company’s definitive proxy
statement (the “Proxy Statement”) previously filed with the
U.S. Securities and Exchange Commission.
At the Meeting, stockholders voted upon and elected the seven
director nominees named in the Proxy Statement and ratified the
appointment of Marcum LLP as the Company’s independent registered
public accounting firm. In addition, stockholders voted on and
approved Proposal 6, approval of an amendment to the Company’s
Certificate of Incorporation to effect a reverse stock split of the
common stock (the “Common Stock”) by a ratio of not less
than one-for-five and not more than one-for-twenty-five at any time
prior to December 28, 2024, with the exact ratio to be set at a
whole number within this range as determined by the Company’s board
of directors (the “Board”) in its sole discretion. Three
proposals were previously withdrawn by the Company. There were no
other transactions of other business brought before the Meeting or
any further adjournments or postponements thereof.
After the Meeting, the Board approved a one-for-twenty-five
reverse stock split of the Common Stock that will be effective in
the State of Delaware on January 16, 2024. The Company anticipates
that beginning with the opening of trading on January 17, 2024, the
Company’s Common Stock will trade on the NYSE American on a
split-adjusted basis under a new CUSIP number, 09175M 507.
The reverse stock split affects all issued and outstanding
shares of the Company’s Common Stock, as well as the number of
shares of Common Stock available for issuance under the Company’s
equity incentive plans. In addition, the reverse stock split
reduces the number of shares of Common Stock issuable upon the
exercise of stock options or warrants outstanding immediately prior
to the reverse split. The par value of the Company’s Common Stock
will remain unchanged at $0.001 per share after the reverse stock
split. The reverse stock split affects all stockholders uniformly
and will not alter any stockholder’s percentage interest in the
Company’s equity, except to the extent that the reverse stock split
results in some stockholders owning a fractional share. No
fractional shares will be issued in connection with the reverse
split. Stockholders who would otherwise be entitled to receive a
fractional share will instead receive a cash payment.
Computershare Trust Company, N.A. (“Computershare”), is
acting as the exchange agent and transfer agent for the reverse
stock split. Computershare will provide instructions to
stockholders with physical certificates regarding the optional
process for exchanging their pre-split stock certificates for
post-split stock certificates and receiving payment for any
fractional shares.
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
www.Ault.com or 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 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.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240112318437/en/
Ault Alliance Investor Contact: IR@Ault.com or
1-888-753-2235
Ault Alliance (AMEX:AULT)
Historical Stock Chart
From Apr 2024 to May 2024
Ault Alliance (AMEX:AULT)
Historical Stock Chart
From May 2023 to May 2024