Summary by Moomoo AI
Ault Alliance, Inc., a Delaware-based corporation, has filed a Form 8-K with the Securities and Exchange Commission on April 4, 2024, reporting a significant amendment to its corporate structure. The company has increased the amount of its Series C Convertible Preferred Stock from 50,000 shares to 75,000 shares following an affirmative vote by the stockholders and unanimous approval by the board of directors on March 21, 2024. This move comes after an amendment to the Securities Purchase Agreement with Ault & Company, Inc., which raised the financing from $50 million to $75 million and extended the closing date for the final tranche of the financing. The Certificate of Increase was filed with the Secretary of State of Delaware and became effective immediately. The detailed information regarding the Certificate of Increase is available in Exhibit 3.1 attached to the report.