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Ault Global Holdings announces completion of $200m At-The-Market Capital raise

By Edlyn Cardoza

November 22, 2021

  • Antminers
  • Ascendiant Capital Markets
  • At-the-Market

Ault Global Holdings, ATM, Ascendiant Capital Markets, Bitcoin, USAAult Global Holdings, Inc., a diversified holding company, recently announced that it has completed the “at-the-market” (“ATM”) equity offering program under which it sold, from time to time, shares of its common stock for aggregate gross proceeds of $200 million. The Company sold the total $200 million at an average price of $3.81 per share. The shares of common stock were offered through Ascendiant Capital Markets, LLC, in its capacity as the sales agent. The Company believes the $200 million in proceeds from the ATM equity offering have been transformational, resulting in a strong balance sheet and providing the Company its most promising opportunities in its over 50-year history.

The Company intends to continue to use the net proceeds from the ATM equity offering for:

  • expansion of its data center business and Bitcoin mining operations, inclusive of purchases of recently announced Antminers from Bitmain;
  • financing of possible acquisitions of companies and/or technologies;
  • financing of its emerging electric vehicle charger and energy storage business;
  • investments through its California licensed finance lender;
  • other business expansions and investments; and
  • working capital and general corporate purposes.

Other than the announced purchase commitments for additional Bitcoin mining equipment, the Company does not have agreements or commitments for any specific acquisitions at this time.

Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “In 2017, we outlined a plan, and we believe we have delivered and continue to execute on that plan. We have worked to drive long-term revenue growth and improved bottom-line results. In addition, we have achieved our goal of eliminating much of our debt directly from proceeds from the ATM equity offering. We believe we are well-positioned to grow revenue, profitability, and cash flow over the next three to five years. Further, we have no plans, at this time, for an additional ATM equity offering.”

Ault Global Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, the Company owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary.

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