Core Viewpoint - Ault Alliance, Inc. has returned a total of 101,362 shares of its 13% Series D cumulative redeemable perpetual preferred stock and 679,969 shares of common stock to treasury, which will reduce the company's annual dividend by $0.3 million, enhancing its financial health [1][2] Group 1: Share Retirement and Financial Impact - The retirement of the Preferred Shares, which accounted for nearly 24% of the outstanding shares of that series, will significantly reduce preferred dividends payable, thereby bolstering the company's financial stability [2] - The total stated value of the returned Preferred Shares is $2.5 million, contributing to a decrease in annual dividend obligations [1] Group 2: Bitcoin Mining Operations - Ault Alliance's subsidiary, Sentinum, has achieved its highest single monthly run rate from Bitcoin mining operations, attributed to focused operational strategies [2] - The company plans to strategically relocate approximately 6,500 mining rigs to Sentinum's self-managed facility in Montana, anticipating further achievements in 2024 driven by favorable Bitcoin market trends [2] Group 3: Company Overview - Ault Alliance, Inc. is a diversified holding company focused on acquiring undervalued businesses and disruptive technologies, operating in various sectors including Bitcoin mining, artificial intelligence, and mission-critical products [3] - The company also extends credit to select entrepreneurial businesses through its licensed lending subsidiary [3]
Ault Alliance Returns to Treasury Common and Preferred Stock, Enhancing Financial Stability