Ault Alliance (AULT) Enters $5.39M Note Purchase Agreement

On July 18, 2024, Ault Alliance (NYSE: AULT) entered into a note purchase agreement with an institutional investor (the “Investor”) pursuant to which the Investor agreed to acquire, and the Company agreed to issue and sell in a registered direct offering to the Investor (the “Offering”), a $5,390,000 10% OID Convertible Promissory Note (the “Note”), subject to customary closing conditions.

The Note is being sold to the Investor for a purchase price of $4,900,000. The Note will not be issued pursuant to an indenture. The Note is convertible at any time after NYSE American (“NYSE”) approval of the Supplemental Listing Application (the “SLAP”) into shares of Class A common stock, par value $0.001 per share (the “Common Stock”) of the Company (the “Conversion Shares”).

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