Ault Alliance Files 8-K on Material Definitive Agreement
Ticker: GPUS-PD · Form: 8-K · Filed: Jun 5, 2024 · CIK: 896493
| Field | Detail |
|---|---|
| Company | Ault Alliance, INC. (GPUS-PD) |
| Form Type | 8-K |
| Filed Date | Jun 5, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $20,000,000, $2,000,000, $1,500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: AULT
TL;DR
AULT signed a big deal on 6/5/24, check the 8-K for deets.
AI Summary
Ault Alliance, Inc. entered into a material definitive agreement on June 5, 2024, related to a direct financial obligation. The company, formerly known as BitNile Holdings, Inc., filed this 8-K report to disclose this event. Specific details of the agreement and the financial obligation are not provided in this excerpt.
Why It Matters
This filing indicates a significant new financial commitment or agreement for Ault Alliance, Inc., which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, suggesting potential financial risks or opportunities that require further investigation.
Key Players & Entities
- Ault Alliance, Inc. (company) — Filer
- BitNile Holdings, Inc. (company) — Former company name
- 20240605 (date) — Filing date
FAQ
What is the nature of the material definitive agreement entered into by Ault Alliance, Inc.?
The filing states that Ault Alliance, Inc. entered into a material definitive agreement, but the specific details of this agreement are not provided in the excerpt.
What is the direct financial obligation mentioned in the filing?
The filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specifics of this obligation are not detailed in the provided text.
When was this 8-K report filed?
This 8-K report was filed on June 5, 2024.
What were Ault Alliance, Inc.'s former company names?
Ault Alliance, Inc. was formerly known as BitNile Holdings, Inc., Ault Global Holdings, Inc., and DPW Holdings, Inc.
What is Ault Alliance, Inc.'s Standard Industrial Classification code?
Ault Alliance, Inc.'s Standard Industrial Classification code is 3679, for Electronic Components, NEC.
Filing Stats: 837 words · 3 min read · ~3 pages · Grade level 11.3 · Accepted 2024-06-05 16:30:29
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value AULT NYSE American 13.0
- $20,000,000 — an aggregate principal amount of up to $20,000,000, provided, however, that at no point wi
- $2,000,000 — principal amount received of more than $2,000,000. All loans under the Credit Agreement
- $1,500,000 — ender made an Advance to the Company of $1,500,000 on the Execution Date. The Advances are
Filing Documents
- e652448k.htm (8-K) — 31KB
- ex10_1.htm (EX-10.1) — 93KB
- ex10_2.htm (EX-10.2) — 56KB
- 0001214659-24-010623.txt ( ) — 428KB
- ault-20240605.xsd (EX-101.SCH) — 4KB
- ault-20240605_def.xml (EX-101.DEF) — 26KB
- ault-20240605_lab.xml (EX-101.LAB) — 36KB
- ault-20240605_pre.xml (EX-101.PRE) — 25KB
- e652448k_htm.xml (XML) — 6KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On June 4, 2024 (the " Execution Date "), Ault Alliance, Inc., a Delaware corporation (the " Company "), entered into a Loan Agreement (the " Credit Agreement ") with OREE Lending Company, LLC and Helios Funds LLC, as lenders (collectively, the " Lender "). The Credit Agreement provides for an unsecured, non-revolving credit facility in an aggregate principal amount of up to $20,000,000, provided, however, that at no point will the Company be allowed to have outstanding Advances in a principal amount received of more than $2,000,000. All loans under the Credit Agreement (collectively, the " Advances ") shall be evidenced by a promissory note. The Lender made an Advance to the Company of $1,500,000 on the Execution Date. The Advances are due December 4, 2024 (the " Maturity Date "), provided, however, that if on such date, the Company has executed an equity line of credit agreement relating to the sale of shares of the Company's 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock, has an effective registration statement relating thereto and is not currently in default under such agreement, then the Maturity Date shall be automatically extended until June 4, 2025. The Lender is not obligated to make any further Advances under the Credit Agreement after the Maturity Date. Advances under the Credit Agreement will include the addition of an original issuance discount of 20% to the amount of each Advance and all Advances will bear interest at the rate of 15.0% per annum and may be repaid at any time without penalty or premium. The obligations of the Company under the Credit Agreement are secured by a guaranty (the " Guaranty ") provided by Milton C. Ault, the Executive Chairman of the Company. The foregoing descriptions of the Credit Agreement and Guaranty do not purport to be complete and are qualified in their entirety by reference to the form of Credit Agreement and Guaranty, which are annexed hereto
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits: Exhibit No. Description 10.1 Form of Loan Agreement. 10.2 Form of Guaranty. 101 Pursuant to Rule 406 of Regulation S-T, the cover page is formatted in Inline XBRL (Inline eXtensible Business Reporting Language). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101). -2- SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AULT ALLIANCE, INC. Dated: June 5, 2024 /s/ Henry Nisser Henry Nisser President and General Counsel -3-