DPW Holdings (NYSE American: DPW) this morning announced
that its board of directors has authorized the officers of the company to
pursue a separate listing and initial public offering (“IPO”) of its DPW
Technology Group, which is comprised of DPW’s defense and aerospace businesses
as well as the electronics and power solutions businesses. Completion of the
IPO is anticipated to occur in the first half of 2019, at which time DPW is
expected to remain a majority shareholder of the new entity. DPW Technology
Group plans to hire a chief executive officer to provide leadership during the
IPO and to develop and execute future growth strategies. Additionally, DPW’s
primary investor has agreed to provide purchase order financing up to $700,000
which shall be secured by a guarantee of Ault & Company, Inc. The parties
are currently in the process of negotiating definitive documents. If the
financing is received, the proceeds would be used to deliver on the backlog of
products in DPW’s defense business.
“Our strategy is to create opportunities for investors to
hold equity in more focused, streamlined entities. The technology and defense
businesses have generated a significant backlog, and we believe the capital
from an IPO will accelerate revenue growth and, ultimately, add value to our
stockholders. This announcement follows recent news regarding our pursuit of a
spin-off of, or other transaction involving, Super Crypto Mining, Inc. and we
look forward to enhancing value for both companies as they enter their next
phase of growth,” DPW Holdings CEO and Chairman Milton “Todd” Ault, III stated
in the news release.
To view the full press release, visit http://ibn.fm/woiVb
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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