Milton C. Ault III - Dec 8, 2022 Form 4 Insider Report for Ault Disruptive Technologies Corp (ADRT)

Role
Director, 10%+ Owner
Signature
/s/ Milton C. Ault, III, Executive Chairman
Stock symbol
ADRT
Transactions as of
Dec 8, 2022
Transactions value $
$155
Form type
4
Date filed
12/12/2022, 03:30 PM
Previous filing
Nov 21, 2022
Next filing
Dec 13, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ADRT Warrants Purchase $155 +10K +1111.11% $0.02* 10.9K Dec 8, 2022 Common Stock 10K $11.50 By Ault Lending, LLC F1, F2
holding ADRT Warrants 7.1M Dec 8, 2022 Common Stock 7.1M $11.50 By Ault Disruptive Technologies Company, LLC F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The warrants may be exercised during the period commencing on the later of (A) the consummation by the Issuer of a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities (a "Business Combination") or (B) December 20, 2022 (subject to extension), and terminating at 5:00 p.m., New York City time, on the date that is five years after the consummation of the Issuer's initial Business Combination or earlier upon redemption or the liquidation of the Issuer.
F2 Ault Lending, LLC (formerly, Digital Power Lending, LLC) ("AL") is a wholly-owned subsidiary of BitNile Holdings, Inc. ("BitNile"). Mr. Ault, the Executive Chairman of BitNile, is deemed to have voting and investment power with respect to the securities held of record by AL.
F3 Ault Disruptive Technologies Company, LLC (the "Sponsor") is a wholly-owned subsidiary of BitNile. Mr. Ault, the Executive Chairman of BitNile, is deemed to have voting and investment power with respect to the securities held of record by the Sponsor.