{"id":768778,"date":"2023-07-10T20:19:59","date_gmt":"2023-07-11T00:19:59","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\/"},"modified":"2023-07-10T20:19:59","modified_gmt":"2023-07-11T00:19:59","slug":"ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\/","title":{"rendered":"Ault Alliance Announces the Completion of the Initial Distribution of TOG Securities"},"content":{"rendered":"

<\/p>\n

Ault Alliance Announces the Completion of the Initial Distribution of TOG Securities<\/b><\/p>\n

Ault Alliance Distributed Approximately 58.6 Million Shares of Common Stock and Warrants to Purchase Approximately 58.6 Million Shares of Common Stock of Imperalis Holding Corp. on July 10, 2023<\/b><\/p>\n

LAS VEGAS–(BUSINESS WIRE<\/a>)–Ault Alliance, Inc.<\/a> (NYSE American: AULT), a diversified holding company, (\u201cAult Alliance<\/strong>\u201d or the \u201cCompany<\/strong>\u201d), hereby announces that the initial distribution (the \u201cInitial Distribution<\/b>\u201d) related to securities of Imperalis Holding Corp. (OTC: IMHC), d\/b\/a TurnOnGreen, Inc. (\u201cTurnOnGreen<\/b>\u201d) was completed on July 10, 2023. In the Initial Distribution, stockholders of the Company received forty (40) shares of TurnOnGreen common stock and warrants to purchase forty (40) shares of TurnOnGreen common stock (the \u201cTOG Securities<\/b>\u201d) for each share of common stock of the Company that they owned on June 26, 2023, the record date for the Initial Distribution for a total of approximately 58.6 million shares of TurnOnGreen common stock and warrants to purchase shares of TurnOnGreen common stock.<\/p>\n

\nThe Company intends to set a record date and payment date for the subsequent distribution(s) (the \u201cSubsequent Distribution<\/b>\u201d) of approximately 81.4 million shares of TurnOnGreen common stock and approximately 81.4 million warrants to purchase shares of TurnOnGreen common stock that the Company presently expects will, with the Initial Distribution, constitute an aggregate of 140 million shares of TurnOnGreen common stock and warrants to purchase 140 million shares of TurnOnGreen common stock.<\/p>\n

\n\u201cWe are pleased to be able to offer this special dividend to our loyal stockholders,\u201d said Milton \u201cTodd\u201d Ault, III, the Executive Chairman of Ault Alliance. \u201cCompletion of this Initial Distribution was difficult, in part given the similar market capitalizations of the Company and TurnOnGreen, which caused a delay in the Initial Distribution and led to our decision to complete the Distribution in tranches. However, the completion of the Initial Distribution confirms our commitment to delivering value to our stockholders, and we hope that they will find this dividend to be a valuable addition to their investment portfolio.\u201d<\/p>\n

\nThis press release is for informational purposes only and shall not constitute an offer to sell or exchange nor the solicitation of an offer to buy shares of the Company\u2019s common stock or any other securities of the Company. The Initial Distribution was not made to any person in any jurisdiction in which the offer, solicitation or sale is unlawful. Any distribution of the shares of TurnOnGreen common stock and warrants will be made only by means of the applicable registration statement and the prospectus included therein.<\/p>\n

\nFor more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance\u2019s public filings and press releases available under the Investor Relations section at https:\/\/www.ault.com\/<\/a> or available at https:\/\/www.sec.gov\/<\/a>.<\/p>\n

About Ault Alliance, Inc.<\/b><\/p>\n

\nAult Alliance, 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, Ault Alliance owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense\/aerospace, industrial, automotive, medical\/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance\u2019s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.com<\/a>.<\/p>\n

About Imperalis Holding Corp.<\/b><\/p>\n

\nTurnOnGreen designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications, lifesaving and sustaining applications spanning multiple sectors in the harshest environments. The diverse markets that TurnOnGreen serve include defense and aerospace, medical and healthcare, industrial, telecommunications, and e-Mobility. TurnOnGreen brings decades of experience to every project, working with its clients to develop leading-edge products to meet a wide range of needs. TurnOnGreen\u2019s headquarters are located in Milpitas, CA; www.TurnOnGreen.com<\/a><\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nThis press release contains \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as \u201cbelieves,\u201d \u201cplans,\u201d \u201canticipates,\u201d \u201cprojects,\u201d \u201cestimates,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cstrategy,\u201d \u201cfuture,\u201d \u201copportunity,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cpotential,\u201d or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company\u2019s business and financial results are included in the Company\u2019s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company\u2019s Forms 10-K, 10-Q and 8-K. All filings are available at https:\/\/www.sec.gov\/<\/a> and on the Company\u2019s website at https:\/\/www.ault.com\/<\/a>.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230710152543\/en\/<\/a><\/span><\/p>\n

IR@Ault.com<\/a> or 1-888-753-2235<\/p>\n

KEYWORDS:<\/b> California Nevada United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Other Manufacturing Technology Finance Professional Services Metaverse Blockchain Manufacturing Internet Data Management Cryptocurrency<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Ault Alliance Announces the Completion of the Initial Distribution of TOG Securities Ault Alliance Distributed Approximately 58.6 Million Shares of Common Stock and Warrants to Purchase Approximately 58.6 Million Shares of Common Stock of Imperalis Holding Corp. on July 10, 2023 LAS VEGAS–(BUSINESS WIRE)–Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company, (\u201cAult Alliance\u201d or the \u201cCompany\u201d), hereby announces that the initial distribution (the \u201cInitial Distribution\u201d) related to securities of Imperalis Holding Corp. (OTC: IMHC), d\/b\/a TurnOnGreen, Inc. (\u201cTurnOnGreen\u201d) was completed on July 10, 2023. In the Initial Distribution, stockholders of the Company received forty (40) shares of TurnOnGreen common stock and warrants to purchase forty (40) shares of TurnOnGreen common stock (the \u201cTOG Securities\u201d) for each share of … <\/p>\n

Continue reading “Ault Alliance Announces the Completion of the Initial Distribution of TOG Securities”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-768778","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAult Alliance Announces the Completion of the Initial Distribution of TOG Securities - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ault Alliance Announces the Completion of the Initial Distribution of TOG Securities - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Ault Alliance Announces the Completion of the Initial Distribution of TOG Securities Ault Alliance Distributed Approximately 58.6 Million Shares of Common Stock and Warrants to Purchase Approximately 58.6 Million Shares of Common Stock of Imperalis Holding Corp. on July 10, 2023 LAS VEGAS–(BUSINESS WIRE)–Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company, (\u201cAult Alliance\u201d or the \u201cCompany\u201d), hereby announces that the initial distribution (the \u201cInitial Distribution\u201d) related to securities of Imperalis Holding Corp. (OTC: IMHC), d\/b\/a TurnOnGreen, Inc. (\u201cTurnOnGreen\u201d) was completed on July 10, 2023. In the Initial Distribution, stockholders of the Company received forty (40) shares of TurnOnGreen common stock and warrants to purchase forty (40) shares of TurnOnGreen common stock (the \u201cTOG Securities\u201d) for each share of … Continue reading "Ault Alliance Announces the Completion of the Initial Distribution of TOG Securities"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-11T00:19:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230710152543r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Ault Alliance Announces the Completion of the Initial Distribution of TOG Securities\",\"datePublished\":\"2023-07-11T00:19:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\\\/\"},\"wordCount\":912,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20230710152543r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\\\/\",\"name\":\"Ault Alliance Announces the Completion of the Initial Distribution of TOG Securities - 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(NYSE American: AULT), a diversified holding company, (\u201cAult Alliance\u201d or the \u201cCompany\u201d), hereby announces that the initial distribution (the \u201cInitial Distribution\u201d) related to securities of Imperalis Holding Corp. (OTC: IMHC), d\/b\/a TurnOnGreen, Inc. (\u201cTurnOnGreen\u201d) was completed on July 10, 2023. In the Initial Distribution, stockholders of the Company received forty (40) shares of TurnOnGreen common stock and warrants to purchase forty (40) shares of TurnOnGreen common stock (the \u201cTOG Securities\u201d) for each share of … Continue reading \"Ault Alliance Announces the Completion of the Initial Distribution of TOG Securities\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\/","og_site_name":"Market Newsdesk","article_published_time":"2023-07-11T00:19:59+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230710152543r1&sid=flmnd&distro=nx&lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Ault Alliance Announces the Completion of the Initial Distribution of TOG Securities","datePublished":"2023-07-11T00:19:59+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\/"},"wordCount":912,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230710152543r1&sid=flmnd&distro=nx&lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/ault-alliance-announces-the-completion-of-the-initial-distribution-of-tog-securities\/","name":"Ault Alliance Announces the Completion of the Initial Distribution of TOG Securities - 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