Ault Global Holdings Sells 9.9% Equity Interest in Universal Security Instruments, Inc.
Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the "Company"), announced that as of January 27, 2021, the Company had sold 228,967 shares of common stock of Universal Security Instruments, Inc. (NYSE American: UUU) at a weighted average price of $10 per share in the open market, for total gross proceeds of $2,290,198 before deducting commissions. As of the close of business on January 27, 2021, the Company owned no shares of Universal Security Instruments, Inc. For further information, see the Schedule 13D/A filed by the Company on January 28, 2021.
Milton "Todd" Ault, III, the Executive Chairman of the Company, stated, "As we outlined in December of 2017, we see a favorable opportunity to follow an activist strategy to add shareholder value. We announced our initial ownership stake in Universal Security Instruments in December 2020, and with the recent sale of our position, we realized a gain of approximately $1.6 million. We expect our activist strategy will be an important part of our business model going forward."
For more information on Ault Global Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company's public filings and press releases available under the Investor Relations section at www.AultGlobal.com or available at www.sec.gov.
About Ault Global Holdings, Inc.
Ault Global Holdings, 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, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holding's headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.com.
Forward-Looking Statements
This press release contains "forward looking statements" 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 "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," 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's business and financial results are included in the Company's filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company's Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company's website at www.AultGlobal.com.
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