New Common Stock Trading Symbol to be “GPUS”, Reflecting Strategic Shift Towards Data Center Operations
LAS VEGAS--(BUSINESS WIRE)--Aug. 28, 2024--
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”), is pleased to announce that it will officially change its corporate name to Hyperscale Data, Inc. (“Hyperscale”), effective September 10, 2024. Along with this rebranding, the Company’s common stock will transition from “AULT” and begin trading under the new ticker symbol “GPUS”, effective September 10, 2024. In conjunction with this change, the ticker symbol for the Company’s Series D Cumulative Redeemable Perpetual Preferred Stock (“Series D Preferred Shares”) will correspondingly change from “AULT PRD” to “GPUS PRD”, effective September 10, 2024.
No action is required by existing stockholders with respect to the ticker symbol changes. The Company’s common stock and the Series D Preferred Shares will continue to be listed on the NYSE American and the applicable CUSIPs will remain unchanged.
This strategic rebranding reflects the Company's focused commitment to expanding and optimizing its data center operations. Hyperscale will continue to manage its three primary data centers, with the flagship facility located in Michigan, positioning itself at the forefront of the data infrastructure industry. Will Horne will continue to lead Hyperscale as the Chief Executive Officer.
Hyperscale will focus on building out its Michigan artificial intelligence (“AI”) data center, with plans to expand its capacity from the current approximately 30 megawatts (“MW”) to approximately 300 MW, subject to the Company’s receipt of state regulatory approvals and adequate funding, which it may or may not obtain. This expansion underscores the Company's commitment to supporting the growing needs of AI and digital infrastructure. According to a Goldman Sachs report, AI is poised to drive a 160% increase in data center power demand, highlighting the strategic importance of Hyperscale’s expansion efforts. Read more in the full report here.
Will Horne, the Company’s Chief Executive Officer, stated, “We are excited to embrace our new identity as Hyperscale. This change underscores our dedication to scaling our data center capabilities and better serving our clients' growing needs.” Mr. Horne added, “Our flagship Michigan data center, alongside our expanded facilities, will lead the way in delivering exceptional data services. Many of the requested leases for our Michigan facility and the 300 MW expansion involve NVIDIA servers. The demand for AI requires our undivided attention, something we are committed to delivering.”
For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or available at www.sec.gov.
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging AI ecosystems and other industries. It also provides mission-critical products that support a diverse range of industries, including a social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma, hotel operations and textiles. In addition, Ault Alliance is actively engaged in private credit and structured finance through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com.
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https://www.businesswire.com/news/home/20240828567909/en/
Ault Alliance Investor Contact:
IR@Ault.com or 1-888-753-2235
Source: Ault Alliance, Inc.
