LAS VEGAS--(BUSINESS WIRE)--Ault Global Holdings, Inc. (NYSE American: DPW), a diversified holding company (the “Company”), announced today that it has achieved a new milestone by raising $165 million in new equity in the last four months. As previously reported, the Company has eliminated $12 million of debt and deployed an additional $8 million of cash for its acquisition of Relec Electronics and the purchase of its cloud and enterprise data center in Michigan.
The Company believes it is well-positioned to capitalize on its primary growth initiatives for 2021. The Company expects 2021 to be its most successful year under current management by and for us to heavily invest in our other key initiatives during 2021, including the following:
- The rollout of Coolisys Technologies Inc’s electric vehicle charger and energy storage systems
- The buildout and expansion of the Michigan cloud and enterprise data center
- The resumption of bitcoin mining leveraging the sustained rise in bitcoin and the low-cost of energy at the Michigan facility - bitcoin miners have been delivered to the facility and are expected to be deployed next week
- Expansion of innovative textile processing technology through funding the manufacture and installation of Multiplex Laser Surface Enhancement systems by Avalanche International Corp. where the Company has made a significant investment
Milton “Todd” Ault III, the Company’s Executive Chairman and Founder said, “After four years, we have reached our goal of being a holding company with adequate resources to manage and financially support our existing subsidiaries and partner companies. We see significant revenue growth and profitability on the horizon. With the strongest balance sheet in the Company’s history, a capable team at the parent company, and a talented group of CEOs at the subsidiary level, I am very excited about our prospects and confident in our ability to execute on key initiatives.”
For more information on Ault Global Holdings 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.AultGlobal.com or available at www.sec.gov.
About Ault Global Holdings, Inc.
Ault Global Holdings, 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, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. The Company’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.com.
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.AultGlobal.com.