Ault Global Holdings Inc. (DPW) stock gained by 2.47% at the last trading close while the DPW stock price continued to rise by 1.51% in the pre-market trading. There is no recent news available regarding this rise in DPW stock. Ault Global is a diversified investment company focused on acquiring undervalued companies and disruptive innovations with global impact in order to expand.
On March 25, DPW announced that Coolisys Technologies Corp which DPW’s power electronics unit, has issued a $10.5 million purchase order for 30,000 7kW residential EV charging systems. Coolisys issued the purchase order as part of a three-year Purchase and Resale Deal with Origin Micro and its affiliate, iNetSupply.com, for residential chargers. Coolisys plans to sell $1.5 million in accessories to residential charging EV systems through iNet as part of fulfilling the purchase order.
Securities Purchase Agreement
Recently on March 12, 2021, Ault Global announced that its wholly-owned subsidiary Digital Power Lending has signed a securities purchase agreement with Alzamend Neuro to invest $10 million in Alzamend common stock and warrants, subject to certain benchmarks being met. DPW agreed to finance $4,000,000 upon implementation of the securities purchase contract, with the remaining funds dependent on Alzamend reaching certain milestones related to FDA approval of Alzamend’s Investigational New Drug application and Phase 1a human clinical trials for AL001, Alzamend’s lithium-based ionic cocrystal therapy.
Alzamend has offered to sell up to 6,666,667 shares of its common stock to DPL for $10,000,000, or $1.50 per share, and to grant warrants to DPL to buy up to 3,333,334 shares of Alzamend common stock with an exercise price of $3.00 per share under the securities purchase agreement. After obtaining a third-party valuation report of Alzamend, the transaction was approved by DPL’s independent directors.
Huge Purchase Order
On March 10, 2021, Ault Global Holdings revealed that their international defense business, Gresham Worldwide has got a valuable purchase order worth $3.0 million from a well-known defense and aerospace customer of their wholly-owned subsidiary, Enertec Systems 2001. Enertec, headquartered in Israel, is a leading designer and manufacturer of sophisticated multi-purpose electronic devices, including specialized computer-based automated test equipment and turnkey solutions that can withstand extreme conditions and combat conditions.
Following the recent developments in DPW, it shows that Ault global has experienced a good start of 2021, therefore due to its promising ongoing performance the investors look interested in making any long-term bet that is causing the DPW stock to rise.