Milton C. Ault III - Dec 14, 2023 Form 4 Insider Report for Ault Alliance, Inc. (AULT)

Role
Executive Chairman, Director
Signature
/s/ Milton C. Ault, III
Stock symbol
AULT
Transactions as of
Dec 14, 2023
Transactions value $
$42,500,000
Form type
4
Date filed
3/11/2024, 04:30 PM
Previous filing
Dec 12, 2023
Next filing
Dec 27, 2023

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 AULT Series C Convertible Preferred Stock Purchase $41.5M +41.5K $1,000.00* 41.5K Dec 14, 2023 Common Stock By Ault & Company, Inc. F1, F2, F3, F4, F5
transaction AULT Series C Warrants Purchase $0 +12.3M $0.00 12.3M Dec 14, 2023 Common Stock 12.3M $3.38 By Ault & Company, Inc. F4, F5
transaction AULT Series C Convertible Preferred Stock Purchase $500K +500 +1.2% $1,000.00* 42K Mar 7, 2024 Common Stock By Ault & Company, Inc. F1, F2, F3, F4, F5
transaction AULT Series C Warrants Purchase $0 +148K +1.2% $0.00 12.4M Mar 7, 2024 Common Stock 148K $3.38 By Ault & Company, Inc. F4, F5
transaction AULT Series C Convertible Preferred Stock Purchase $500K +500 +1.19% $1,000.00* 42.5K Mar 8, 2024 Common Stock By Ault & Company, Inc. F1, F2, F3, F4, F5
transaction AULT Series C Warrants Purchase $0 +148K +1.19% $0.00 12.6M Mar 8, 2024 Common Stock 148K $3.38 By Ault & Company, Inc. F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Series C Convertible Preferred Stock has a stated value of $1,000.00 and is convertible into shares of Common Stock at a conversion price equal to the greater of (i) $0.10 per share and (ii) the lesser of (A) $5.245 or (B) 105% of the volume weighted average price of the Common Stock during the ten trading days immediately prior to the date of conversion (the "Conversion Price"). The Conversion Price is subject to adjustment in the event of an issuance of Common Stock at a price per share lower than the Conversion Price then in effect, as well as upon customary stock splits, stock dividends, combinations or similar events.
F2 The Series C Convertible Preferred Stock has no expiration date.
F3 As of March 11, 2024, the Conversion Price is approximately $0.61 a share, so each share of Series C Convertible Preferred Stock is convertible into approximately 1,639 shares of Common Stock.
F4 The Issuer is restricted from issuing shares of Common Stock upon conversion of the Series C Convertible Preferred Stock and /or exercise of the Series C Warrants to the extent such issuances would result in an aggregate number of shares of Common Stock exceeding 452,214, which represents 19.99% of the total shares of Common Stock issued and outstanding as of November 6, 2023, the execution date of the purchase agreement pursuant to which the shares of Series C Convertible Preferred Stock and Series C Warrants are issued, in accordance with the rules and regulations of the NYSE American unless the Issuer first obtains stockholder approval, which has not yet been obtained.
F5 Milton C. Ault, III, is the Chief Executive Officer of Ault & Company, Inc. ("Ault & Co.") and is deemed to beneficially own the shares held by Ault & Co.