Ault & company, inc. announces abandonment of dutch tender offer to acquire shares of common stock of hyperscale data, inc.

Las vegas, jan. 02, 2025 (globe newswire) -- ault & company, inc. (“ault & company”), today announced its abandonment of its planned cash tender offer to purchase up to 111,000 shares of class a common stock, $0.001 par value per share (“common stock”), of hyperscale data, inc., a delaware corporation (“hyperscale data”), at a price not greater than $10.00 nor less than $7.50 per share of common stock, net to the seller in cash, less any applicable withholding taxes and without interest, in order to enable ault & company to pursue transactions under the recently executed securities purchase agreement with hyperscale data, pursuant to which ault & company has the right to purchase up to $25 million in shares of hyperscale data's series g convertible preferred stock in compliance with the federal securities laws. ault & company continues to believe that the current stock price of the common stock is below hyperdrive data's long-term intrinsic value per share and believes that an investment in the preferred shares demonstrates the continued commitment of ault & company to supporting hyperscale data and its stockholders.
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