UNITED STATES

 

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

____________________________________________________________

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

___________________________________________________________________

 

Date of Report (Date of earliest event reported):  March 25, 2021

 

AULT GLOBAL HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   001-12711   94-1721931
(State or other jurisdiction of
incorporation or organization)
  (Commission File Number)   (I.R.S. Employer Identification No.)

 

11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141

(Address of principal executive offices) (Zip Code)

 

(949) 444-5464

(Registrant's telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class  

Trading

Symbol(s)

  Name of each exchange on which registered
Common Stock, $0.001 par value   DPW   NYSE American

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

   
 

 

ITEM 7.01REGULATION FD DISCLOSURE

 

On March 25, 2021, Ault Global Holdings, Inc., a Delaware corporation (the “Company”), issued a press release announcing that its power electronics business, Coolisys Technologies Corp. (“Coolisys”), has received a $10.5 million purchase order for 30,000 7kW residential EV charging systems. Coolisys received the purchase order in conjunction with entering into a three-year Purchase and Resale Agreement for the residential chargers with Origin Micro and its subsidiary, iNetSupply.com.

 

A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated by reference herein.

 

In accordance with General Instruction B.2 of Form 8-K, the information under this item, Exhibit 99.1 shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing. This report will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of Regulation FD.

 

The Securities and Exchange Commission encourages registrants to disclose forward-looking information so that investors can better understand the future prospects of a registrant and make informed investment decisions. This Current Report on Form 8-K and exhibits may contain these types of statements, which are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and which involve risks, uncertainties and reflect the Registrant’s judgment as of the date of this Current Report on Form 8-K. Forward-looking statements may relate to, among other things, operating results and are indicated by words or phrases such as “expects,” “should,” “will,” and similar words or phrases. These statements are subject to inherent uncertainties and risks that could cause actual results to differ materially from those anticipated at the date of this Current Report on Form 8-K. Investors are cautioned not to rely unduly on forward-looking statements when evaluating the information presented within.

 

Where You Can Find Additional Information

 

Investors and security holders will be able to obtain documents filed with the Securities and Exchange Commission free of charge at the Commission’s website, www.sec.gov.  Security holders may also read and copy any reports, statements and other information filed by the Company with the Commission, at the SEC public reference room at 100 F Street, N.E., Washington D.C. 20549.  Please call the Commission at 1-800-SEC-0330 or visit the Commission’s website for further information on its public reference room.

 

ITEM 9.01FINANCIAL STATEMENTS AND EXHIBITS

 

(d)Exhibits:

 

Exhibit No.    Description
     
99.1   Press Release issued on March 25, 2021.

 

 -1 
 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

  AULT GLOBAL HOLDINGS, INC.  
     
     
  /s/ Henry Nisser  
Dated: March 26, 2021

Henry Nisser

President and General Counsel

 

 

 

-2-

 

 

 

Exhibit 99.1

 

 

Ault Global Holdings’ Coolisys Power Electronics Receives $10.5 Million Order for Residential Electric Vehicle Chargers

 

Las Vegas, NV, March 25, 2021 – Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the “Company”), announced today that its power electronics business, Coolisys Technologies Corp. (“Coolisys”), has received a $10.5 million purchase order for 30,000 7kW residential EV charging systems. Coolisys received the purchase order in conjunction with entering into a three-year Purchase and Resale Agreement (“Agreement”) for the residential chargers with Origin Micro and its subsidiary, iNetSupply.com (collectively, “iNet”). Coolisys anticipates that it will, in connection with fulfilling the purchase order, sell accessories to the residential charging EV systems in the approximate amount of $1.5 million through iNet. The 7kW wall-mount charging system runs on 208/240 volts and is compatible with the SAE J1772 charging connector, with the option to add an adapter to charge Tesla vehicles.

 

iNet is a leader in distributing new products for many popular brands including Lenovo, Dell, HP and Cisco through its strong relationships with traditional and e-commerce channels and platforms. The 7kW wall-mount residential charger and its peripherals will be available for purchase and preorder at iNetSupply.com. We expect that the 7kW wall-mount charger and peripherals will during the next few months be listed on Newegg.com, NeweggBusiness.com, Amazon.com, eBay.com and Walmart.com. iNet is highly regarded for delivering product integrity and customer service to businesses and consumers.

 

iNet’s President, Donald G. Doney, Jr. stated, “The future of humanity’s daily transportation lies in the development of EV and EV infrastructure. Affordable, rapid charging of those millions of EV’s requires expertly engineered devices that are easy to use and install. We are excited to enter this agreement with Coolisys and navigate the growth of Coolisys’ groundbreaking residential line of chargers to the public.”

 

Coolisys’ President and CEO, Amos Kohn said, “We are pleased to announce this purchase and resale agreement with iNet along with our second purchase order from iNet. We look forward to cultivating the opportunities that iNet can provide in what we anticipate being a burgeoning relationship. iNet provides the level of experience, knowledge, integrity and professionalism that we believe to be required to launch, manage, and grow our residential EV charging product line. We believe our EV residential charger product line will be well positioned to address the expected rapid expansion of infrastructure required to support broad adoption of electric vehicles globally.”

 

For more information on Ault Global Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings and press releases available under the Investor Relations section at www.AultGlobal.com or available at www.sec.gov.

 

 

About Ault Global Holdings, Inc.

 

Ault Global Holdings, 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, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holding’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.com.

 

   
 

 

 

About Coolisys Technologies Corp.

 

Coolisys designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications in the harshest environments and life-saving, life sustaining applications and electric vehicle supply equipment across diverse markets including automotive, defense/aerospace, medical/healthcare, industrial and telecommunications. Coolisys’ headquarters are located at 1635 South Main Street, Milpitas, CA 95035; www.Coolisys.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.AultGlobal.com.

 

Contacts:

IR@AultGlobal.com or 1-888-753-2235