Core Viewpoint - Ault Alliance, Inc. has terminated its at-the-market issuance sales agreement for common stock and will not utilize an ATM for sales in 2024 and the foreseeable future, while considering issuing non-convertible debt to fund operations until revenues can cover costs [1][3] Group 1: Company Strategy - The company plans to restructure ownership of its operating businesses to create a simpler and more efficient organizational structure, resulting in two reporting segments: Sentinum, Inc. for data center operations including bitcoin mining, and Ault Capital Group, Inc. for other entities [2] - The founder and Executive Chairman emphasized the strategic shift as a pivotal moment for the company, focusing on maximizing stockholder value and securing a robust financial future through streamlined operations and leveraging legacy investments [3] Group 2: Financial Position - Ault Alliance has accumulated a nearly $400 million asset base and aims to bridge the gap between its public valuation and the true value of its underlying assets [3] - The company intends to fuel the expansion of Sentinum and Ault Capital through strategic financing methods, including ongoing funding from Ault & Company, Inc. via Series C preferred stock investment [3] Group 3: Business Operations - Ault Alliance is a diversified holding company focused on acquiring undervalued businesses and disruptive technologies, operating a data center for bitcoin mining and offering colocation and hosting services for AI ecosystems [4] - The company provides mission-critical products across various industries, including metaverse platforms, oil exploration, defense/aerospace, and extends credit to select entrepreneurial businesses through a licensed lending subsidiary [4]
Ault Alliance Announces Termination of At-The-Market Offering and Embarks on Path to Corporate Restructuring