Ault Disruptive Technologies filed to offer 10 million units it would price at $10 each. A unit consists of one share and one-half of a warrant.
Ault in the filing said it seeks “to acquire companies with innovative and emerging technologies, products or services that have the potential to transform major industries and radically impact society.”
Chairman Milton C. (Todd) Ault III since 2017 has spent a substantial portion of his time transforming Ault Global, formerly DPW Holdings, into a diversified holding company with interests in the defense-aerospace, industrial, automobile, telecommunications, medical-biopharma and textile industries, acccording to the S-1 filing. Ault has been executive chairman of sponsor Ault Global since March 2017.
A.G.P. is sole book-runner for the offering. The underwriters have the option to purchase up to an additional 1.5 million units to cover over-allotments, if any.
The SPAC has applied to list on the NYSE under ADRTU. Read more.
