Milton C. Ault III - 08 Dec 2022 Form 4 Insider Report for Ault Disruptive Technologies Corp

Role
Director, 10%+ Owner
Signature
/s/ Milton C. Ault, III, Executive Chairman
Issuer symbol
N/A
Transactions as of
08 Dec 2022
Net transactions value
+$155
Form type
4
Filing time
12 Dec 2022, 15:30:32 UTC
Previous filing
21 Nov 2022
Next filing
13 Dec 2022
SEC
View on sec.gov

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 +10,000 +1111% $0.0155* 10,900 08 Dec 2022 Common Stock 10,000 $11.50 By Ault Lending, LLC F1, F2
holding ADRT Warrants 7,100,000 08 Dec 2022 Common Stock 7,100,000 $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.