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Ault Alliance postpones offer to swap common stock for 13% preferreds
By Wendy Van Sickle
Columbus, Ohio, Jan. 5 – Ault Alliance, Inc. postponed beginning its planned offer to exchange at least 20 million and up to 60 million shares of its common stock for up to $15 million total liquidation preference of its 13% series D cumulative redeemable perpetual preferred stock, according to a press release Friday.
The company did not obtain a quorum for and had to adjourn its 2023 annual meeting of stockholders and said it therefor determined to postpone commencing the offer in order to pursue the matters at the annual meeting and to avoid the administrative complications that could affect the offer should certain matters at the annual meeting be approved.
Ault said it still anticipates starting the offer in 2024 but can make no assurance that it will.
Ault Alliance is a Las Vegas-based diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.
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