DPW Holdings (NYSE American: DPW) this morning announced the
November 23, 2018 authorization of its Board of Directors to pursue a spinoff
of DPW’s wholly-owned subsidiary Super Crypto Mining, Inc. The move
demonstrates the company’s confidence in the long-term viability of
crypto-mining and the cryptocurrency marketplace and endeavors to support Super
Crypto with the independence and tools to achieve and surpass its goals 2019
and beyond.
“As stated during our investor conference call on December
20, 2017, the acquisition of assets that would appreciate under our ownership
and the creation of increased shareholder value through our portfolio companies
and projects was our top priority.” DPW Holdings CEO and Chairman Milton “Todd”
Ault, III stated in the news release. “By spinning off our cryptocurrency
assets, we are separating disparate businesses and providing the opportunity to
hold stock in a pureplay crypto company. We are confident crypto-mining and the
cryptocurrency marketplace will flourish in the long term and think there is
significant value in Super Crypto and its various initiatives which require the
ability to finance their growth independently. Regardless of the current
downturn in the cryptocurrency space, we believe the assets of Super Crypto
will be able to serve as the foundation of an independent company with the
ability to raise its own capital. Further, this transaction positions Super
Crypto Mining for a bitcoin recovery. It is our intent to declare a special
dividend of no less than 80 percent of the common stock of Super Crypto to DPW
stockholders.”
To view the full press release, visit http://ibn.fm/b6JFx
About DPW Holdings, Inc.
DPW Holdings, Inc. is a diversified holding company pursuing
growth by acquiring undervalued businesses and disruptive technologies with
global impact. Through its wholly owned subsidiaries and strategic investments,
the company provides mission-critical products that support a diverse range of
industries, including defense/aerospace, industrial, telecommunications,
medical, crypto-mining, and textiles. In addition, the company owns a select
portfolio of commercial hospitality properties and extends credit to select
entrepreneurial businesses through a licensed lending subsidiary. For more
information, visit the company’s website at www.DPWHoldings.com
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