Ault Alliance terminates ATM equity program; raised $176.6M at $0.56/share

Hyperscale Data, Inc.

Company elected to terminate the ATM facility with Ascendiant Capital Markets effective March 17, 2023.
Under the program, sold 317.9M shares for gross proceeds of approximately $176.6M, or $0.56 per share.
Termination aims to limit uncertainty and unfavorable dilution for stockholders.
Upon termination, the Company will have no further obligations related to the ATM facility.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Hyperscale Data, Inc. terminated At-the-Market Issuance Sales Agreement with Ascendiant Capital Markets, LLC valued at terminated with 317.9 million shares sold and approximately $176.6 million in gross proceeds raised (effective 2023-03-17).

Action: termination
Agreement: atm program
Counterparty: Ascendiant Capital Markets, LLC
Value: terminated with 317.9 million shares sold and approximately $176.6 million in gross proceeds raised
Effective: 2023-03-17

Exact text from the filing

On March 12, 2023, Ault Alliance, Inc. (the “ Company ”) provided written notice to Ascendiant Capital Markets, LLC, as sales agent (the “ Agent ”) of its election to terminate the At-the-Market (“ ATM ”) Issuance Sales Agreement (the “ Agreement” ), dated February 25, 2022, between the Company and the Agent with regards to sales of the Company’s common stock under the Agreement.

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Source: SEC EDGAR

accession 0001214659-23-003788

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