Core Viewpoint - Ault Alliance, Inc. plans to initiate a stock repurchase program authorized by its Board of Directors, with an anticipated start date following the filing of its Form 10-Q for the quarter ending March 31, 2024 [1][2]. Group 1: Stock Repurchase Program Details - The Board has authorized the repurchase of up to $50 million of common stock, which may be executed through various methods, including open market repurchases [2]. - A Rule 10b5-1 Plan will be established to facilitate the repurchases, allowing the company to trade during periods when it would otherwise be restricted due to insider trading laws or other regulations [2][3]. - The repurchase program is set to expire on December 15, 2024, but can be modified or discontinued at the company's discretion [3]. Group 2: Financial Considerations - The timing and number of shares repurchased will depend on factors such as Board approval, available financing, cash position, stock price, trading volume, and market conditions [3]. - The company intends to finance the repurchases through excess cash flow from operations and proceeds from future borrowing arrangements [3]. Group 3: Management's Perspective - The company's management views the repurchase program as a prudent use of capital, believing that the common stock is currently undervalued [4]. - Previous methods to buy back common stock were explored, but the current repurchase program is considered the most efficient approach [4]. Group 4: Company Overview - Ault Alliance, Inc. is a diversified holding company focused on acquiring undervalued businesses and disruptive technologies, operating in various sectors including data centers, Bitcoin mining, and artificial intelligence [5].
Ault Alliance Anticipates Utilizing Previously Authorized Common Stock Repurchase Plan