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.
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.