LAS VEGAS--(BUSINESS WIRE)--Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the “Company”), announced that as of February 26, 2021, the Company and related parties have purchased an aggregate of 683,032 shares of common stock, constituting a 9.9% equity interest in SunLink Health Systems, Inc. (NYSE American: SSY) (“SSY”) at a weighted average price of $2.27 per share in the open market, for a total cost of $1,435,777. For further information, see the Schedule 13D filed by the Company with the Securities and Exchange Commission on March 1, 2021. On March 2, 2021, the Company acquired an additional 6,000 shares of SSY, constituting a 9.99% equity interest in SSY.
SSY, through its subsidiaries, provides healthcare products and services in the southeastern United States. It operates through two segments, Healthcare Services and Pharmacy. The Healthcare Services segment owns and operates an 84-bed community hospital, which includes an 18-bed geriatric psychiatry unit and a 66-bed nursing home in Mississippi; it also offers information technology services and owns unimproved lands. The Pharmacy segment offers institutional and non-institutional pharmacy services; and durable medical equipment products and services, which consist of the sale and rental of products for institutional clients or to patients in institutional settings and patient-administered home care, as well as retail pharmacy products and services. SSY was founded in 1959 and is headquartered in Atlanta, GA.
Milton “Todd” Ault, III, the Executive Chairman of the Company, stated, “As we outlined in December of 2017, we see a favorable opportunity to follow an activist strategy to add shareholder value. We are announcing our initial ownership stake in SSY as we continue our activist strategy which is an important part of our business model going forward.” Mr. Ault continued, “Given the cash, the land, the operations including the hospitals, pharmacy and other services and assets that SSY has, we believe the adage that 'the sum of the parts are worth more than the whole' applies and that the shares of SSY are significantly undervalued. We hope to work constructively with SSY’s board of directors and management to enhance value for all SSY shareholders.”
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, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holding’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 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.AultGlobal.com.