- Ault Alliance Inc (NYSE:AULT) has terminated its at-the-market equity offering program relating to sales of common stock (ATM Facility) with Ascendiant Capital Markets LLC, as sales agent.
- The company elected to terminate the ATM Facility to limit uncertainty and unfavorable dilution for its stockholders.
- With the official termination to take effect on March 17, 2023, the company will make no further sales of shares under the ATM Facility.
- Upon termination, Ault will have no further obligations related to the ATM Facility.
- Upon the announcement of the initiation of the ATM Facility’s termination process, the company had sold 317.9 million shares and raised about $176.6 million in gross proceeds, or approximately $0.56 per share.
- Price Action: AULT shares are trading higher by 4.10% at $0.091 in premarket on the last check Monday.
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