Ault Global Holdings Inc (NYSEAMERICAN:DPW) stock is trading a bit lower in the pre-market session on Wednesday. The stock has gained almost 10% over the past week.
Major Trigger:
Ault Global Holdings Announces Ault Disruptive Technologies Corporation’s Confidential Submission of a Draft Registration Statement Relating to the Proposed Initial Public Offering of Its Common Stock
Key Highlights:
- Ault Global announced that Ault Disruptive Technologies Corporation (“ADTC”), a special purpose acquisition company, commonly referred to as a SPAC, has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”). The public offering is expected to commence after the SEC completes its review process, subject to market and other conditions. The Company, through its wholly owned subsidiary, Ault Disruptive Technologies Company, LLC, is acting as the sponsor for ADTC.
- This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). This announcement is being issued in accordance with Rule 135 under the Securities Act.
Market Reaction:
As of 8:31, DPW stock down by 2.27% to $3.02. So far more than 87k shares have exchanged hands.
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