|View printer-friendly version|
|DPW Holdings Authorizes Pursuit of Spinoff of Super Crypto Mining, Inc. through a Special Dividend to Stockholders|
NEWPORT BEACH, Calif.,
• The separation of the two businesses should not only enable their respective management teams to concentrate on the operations of the company for which they are responsible but also facilitate analysts’, market makers’ and others’ ability to ascertain the value of each entity and thus provide more clarity to the market through, among other reasons, being able to review two separate financial statements which could in turn lead to higher valuations for each entity;
• Investors, including portfolio managers and other institutional investors, who are interested in the cryptocurrency sector could initiate, maintain, or increase their position in Super Crypto, whereas investors who are not interested could take the alternate approach; as a result, the spinoff could enhance both companies’ ability to raise financing to expand their operations, among other objectives;
• Since a new board of directors would be established for Super Crypto, the members thereof should bring more expertise in the cryptocurrency sector to bear on their decision-making, and enable the members of the DPW Board of Directors to focus on a business with which they are more familiar; this in turn should lead to additional benefits such as a better allocation of capital and human resources; and
• Once spun off, Super Crypto should be able to use its shares as currency to pursue a variety of objectives, an option not presently available to it as DPW owns all its shares of its capital stock.
Any plan that the Company devises will be subject to approval by DPW’s senior secured creditor and certain regulatory bodies.
CEO and Chairman, Milton “Todd” Ault, III said, “As stated during our investor conference call on
For more information, DPW 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.DPWHoldings.com or available at www.sec.gov.
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
Contacts: Mary Magnani and Kirsten Chapman, LHA Investor Relations, 415.433.3777, firstname.lastname@example.org###