Ault Global Holdings Inc (NYSEAMERICAN: DPW) has announced the public offering of common stock of Ault Disruptive Technologies Corporation (“ADTC“). This will result in value unlocking for the shareholders and increase the liquidity at the parent company.
Public offering on card
Holding company Ault Global will soon be unlocking value and initiated the process to offer the common stock of Ault Disruptive Technologies Corporation, through public offerings. The company has submitted a draft statement of registration on Form S-1 with the SEC (Securities and Exchange Commission). Once the SEC completes its review process, post that public offering will get commenced. Atul Group Holding, through its subsidiary, Ault Disruptive Technologies Company, LLC, will be a sponsor for Ault Disruptive Technologies Corporation.
Ault Global Holdings, is a diversified company having presence across various verticals through its different subsidiaries. The group caters to industries starting from industrial, defense (includes aerospace), telecommunication, automotive space, textiles, and pharma industry. The group is also involved in extending credit to various enterprise (whether small or mid-sized company) through their subsidiary which is regulated by the authority. The holding company had reported a strong set of numbers, with an increase in revenue by 136% to $13.2 million in 1Q 2021 compared to its corresponding period last year. The company reported $2mn of net income in the last quarter, which the first-ever profit under the new (current) management.
The holding company has significant cash and cash equivalents on its book, at the end of 1Q 2021, the cash balance at the end of the quarter stood at $107.8 billion, investments of $36.5 million, and marketable securities (current investments) of $18.2 million, indicate the healthy position of the group.
Public offerings of Ault Disruptive Technologies Corporation, post-SEC review process, will look into various strategic opportunities and increase the stockholder value.