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://nnw.fm/8RwiW
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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