Ault Alliance Received a Dividend of $1.5 Million from its Subsidiary, Circle 8 Crane Services

By: Ault Alliance, Inc. via Business Wire

August 08, 2023 at 06:45 AM EDT

Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”) is pleased to announce that its indirect subsidiary, Circle 8 Crane Services LLC, a leading crane rental and lifting solutions provider (“Circle 8”), recently paid a cash dividend of $1.5 million to Ault Alliance.

Ault Alliance acquired the assets of Circle 8 in December 2022, and the cash dividend from Circle 8 to Ault Alliance has reinforced the Company’s financial position. The addition of Circle 8 to Ault Alliance’s business portfolio has produced positive results in less than nine months, a testament to the commitment and efficiency of Circle 8’s management team, whose performance has significantly exceeded Ault Alliance’s projections when it decided to make the acquisition.

Milton “Todd” Ault, III, the Company’s Executive Chairman, expressed his satisfaction with the results, stating, “We could not be more pleased with the acquisition of Circle 8. Its management team has performed exceedingly well to date. One of the most prominent features of our business model as a holding company consists of receiving dividends from the free cash flow of our portfolio companies, which Circle 8 has demonstrably proven capable of accomplishing.”

Mr. Ault further commented, “We greatly appreciate the return on investment delivered by Circle 8. It reinforces our business strategy of making investments in a diversity of industries and provides us the ability to, among other potential allocations of resources, make additional investments in promising opportunities to achieve strategic growth in the future.”

For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.ault.com or available at www.sec.gov.

About Ault Alliance, Inc.

Ault Alliance, 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, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.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.ault.com.