Ault & Company, Inc. 4
4 · DPW Holdings, Inc. · Filed Aug 24, 2020
Insider Transaction Report
Form 4
Ault & Company, Inc.
10% Owner
Transactions
- Conversion
Common Stock
2020-08-21$1.45/sh+413,793$600,000→ 1,080,738 total - Conversion
8% Convertible Promissory Note
2020-08-21$1000000.00/sh+1$1,000,000→ 400,000 totalExercise: $1.45→ Common Stock (689,655 underlying)
Footnotes (3)
- [F1]On February 5, 2020, the Issuer sold and issued an 8% Convertible Promissory Note in the principal amount of $1,000,000 (the "Note") to the Reporting Person, which Note is convertible into shares of the Issuer's common stock, par value $0.001 per share (the "Common Stock") at a conversion price of $1.45 per share. On August 20, 2020, the Reporting Person converted $600,000 of the Note into 413,793 shares of Common Stock. The Issuer's stockholders approved the conversion of the Note into shares of Common Stock at $1.45 per share at the Issuer's special meeting of stockholders held on July 8, 2020, as required by Rule 713(a)(ii) of the NYSE Company Guide.
- [F2]The Note is convertible, at the election of the Reporting Person, prior to payment, or prepayment, in full on or after July 22, 2020.
- [F3]Excludes shares issuable at the election of the Reporting Person upon conversion of accrued interest (both past and future) into shares of Common Stock.