LAS VEGAS - Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company, announced the upcoming final distribution of securities for TurnOnGreen, Inc. This distribution follows previous allocations of TurnOnGreen common stock and warrants to Ault Alliance stockholders.
The company has scheduled the record date for April 15, 2024, with a payment date of April 29, 2024, for the final distribution of approximately 0.83 shares of TurnOnGreen common stock and warrants per share of Ault Alliance common stock. The payment date is subject to change.
In the initial distribution, Ault Alliance stockholders received 40 shares of TurnOnGreen common stock and warrants, followed by 15 additional securities in the second distribution. To date, 115,015,275 securities have been distributed, with 24,984,725 remaining for the final distribution.
Based on the closing prices as of Monday, April 15, 2024, the 0.83 shares of TurnOnGreen common stock and warrants are valued at approximately $0.0141 per share of Ault Alliance common stock.
Ault Alliance will not issue fractional shares. Instead, stockholders entitled to fractional shares will receive a cash payment from the exchange agent in charge of the distribution. The proceeds from the sale of all fractional interests will be distributed to shareholders after the sale, based on prevailing market prices.
Milton C. Ault, Executive Chairman of Ault Alliance, expressed satisfaction in fulfilling the commitment regarding the TurnOnGreen securities and mentioned the company's intention to assist TurnOnGreen in listing its shares on a national securities exchange once eligibility criteria are met.
The Securities and Exchange Commission has declared the registration statement related to the distributions effective. This press release is for informational purposes only and should not be considered an offer to sell or a solicitation of an offer to buy any securities.
This news article is based on a press release statement. For further details regarding Ault Alliance's filings and public releases, interested parties may consult the SEC's website or Ault Alliance's Investor Relations section.
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