Ault Alliance, Inc., a company listed on the United States Securities and Exchange Commission, has filed a preliminary proxy statement, indicating plans to hold a Special Meeting of stockholders on August 26, 2024. The meeting, which will be conducted virtually, is set to address two key proposals. The first is to seek approval for the conversion of a 10% OID Convertible Promissory Note, with a principal amount of $5,390,000, into the company's Class A common stock. This note was issued under a Note Purchase Agreement dated July 18, 2024. The second proposal is to approve the adjournment of the meeting to a later date if necessary, to allow for further solicitation and voting of proxies if there are insufficient votes to approve the other proposals...Show More

Ault Alliance, Inc., a company listed on the United States Securities and Exchange Commission, has filed a preliminary proxy statement, indicating plans to hold a Special Meeting of stockholders on August 26, 2024. The meeting, which will be conducted virtually, is set to address two key proposals. The first is to seek approval for the conversion of a 10% OID Convertible Promissory Note, with a principal amount of $5,390,000, into the company's Class A common stock. This note was issued under a Note Purchase Agreement dated July 18, 2024. The second proposal is to approve the adjournment of the meeting to a later date if necessary, to allow for further solicitation and voting of proxies if there are insufficient votes to approve the other proposals at the time of the meeting. Stockholders of record as of the close of business on an unspecified date in 2024 will be entitled to vote. The proxy materials are expected to be mailed to stockholders on or about August 12, 2024. The conversion of the note is subject to stockholder approval as it would result in the issuance of shares exceeding 19.99% of the total number of shares of common stock outstanding as of the date of the Note Purchase Agreement, in accordance with NYSE American rules.