DPW Holdings, Inc. Announces Ault & Company, Inc. Has Agreed to Acquire a 19.9% Ownership Position in Its Common Stock
December 23 2019 - 5:45AM
Business Wire
DPW Holdings, Inc. (NYSE. American: DPW), a diversified holding
company (“DPW” or the “Company”), announced that Ault
& Company, Inc., a Delaware corporation, has agreed to acquire
a 19.9% ownership interest in its common stock at a price of $1.12
per share, or $0.01 higher than the closing price from Friday,
December 20, 2019.
Mr. Milton C. Ault, III, the Company’s Chief Executive Officer
and Chairman, said, “This purchase of common stock by Ault &
Company demonstrates belief in the progress being achieved by the
Company and its subsidiaries, the strength and value of the assets
of DPW today, and the confidence in our ability to increase
shareholder value.”
Ault & Company, Inc. is a private holding company controlled
by Mr. Ault.
For more information on DPW Holdings and its subsidiaries, the
Company recommends that stockholder, investors and any other
interested parties read the Company’s public filings and press
releases available under the Investor Relations section at or
available at www.sec.gov.
About DPW Holdings, Inc.
DPW Holdings, Inc. is a diversified holding company pursuing
growth by acquiring undervalued businesses and disruptive
technologies that provide a global impact. Through its wholly as
well as majority owned subsidiaries and strategic investments, the
Company provides mission-critical products that support a diverse
range of industries, including defense/aerospace, industrial,
telecommunications, medical, crypto-mining, and textiles. In
addition, the Company owns a select portfolio of commercial
hospitality properties and extends credit to select entrepreneurial
businesses through a licensed lending subsidiary. The Company’s
headquarters are located at 201 Shipyard Way, Suite E, Newport
Beach, CA 92663; www.DPWHoldings.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 SEC including, but not limited to, the
Company’s Forms 10-K and 10-Q. All filings are available at
www.sec.gov and on the Company’s website at
www.DPWHoldings.com.
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