Ault Alliance enters share exchange to acquire 92.4% of Ecoark via BitNile.com subsidiary

Hyperscale Data, Inc.

Ecoark to acquire BitNile.com from Ault Alliance and minority holders for $100M stated value convertible preferred stock.
Ault Alliance to receive 8,637.5 shares of Series B Preferred; total preferred convertible into 400M Ecoark shares (92.4% fully diluted).
Ault Alliance gets right to appoint three board members of Ecoark, future majority after shareholder approval.
Conversion price set at $0.25 per share; dividends at 5% annually, increasing to 12% if unpaid.
Closing conditions include fairness opinion and completion of due diligence by both parties.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Hyperscale Data, Inc. entered into Share Exchange Agreement with Ecoark Holdings, Inc. (effective 2023-02-08).

Action: entry
Agreement: merger
Counterparty: Ecoark Holdings, Inc.
Effective: 2023-02-08

Exact text from the filing

On February 8, 2023, Ault Alliance, Inc. (the “ Company ”) entered into a Share Exchange Agreement (the “ Agreement ”) with Ecoark Holdings, Inc. (“ Ecoark ”).

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Hyperscale Data, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-23-001960

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