World News: 11:50 GMT Friday 14th September 2018. [DPW Holdings, Inc. via Globe Newswire via SPi World News]
Newport Beach, CA, Sept. 14, 2018 (GLOBE NEWSWIRE) -- DPW Holdings, Inc. (NYSE American: DPW), a diversified holding company (the “Company”), announced it has filed a prospectus supplement with the U.S. Securities and Exchange Commission (“SEC”) for a continuous public offering of up to 1,000,000 shares of its newly designated 10% Series A Cumulative Redeemable Perpetual Preferred Stock (the “Series A Preferred Stock”) carrying liquidation preference of $25.00 per share. The Company expects to realize up to $23.5 million in net proceeds, prior to payment of estimated expenses of the offering payable by the Company, assuming all shares of the Series A Preferred Stock are sold in the Offering. The 10% Series A Preferred Stock dividend will be paid ratably on a monthly basis.
The Company intends to use the net proceeds from this offering to repay existing indebtedness, to fund future acquisitions and for other general corporate purposes. There is currently no public market for the Series A Preferred Stock. The Company intends to apply to list the Series A Preferred Stock on the NYSE American under the symbol “DPWP”; however, there can be no assurance that a listing will be achieved or, if it is, when any such application will be approved.
The Company presently expects that the offering of Series A Preferred Stock will terminate when all 1,000,000 shares offered shall have been sold.
To obtain a copy of the prospectus supplement relating to this offering, please contact: , (888) 753-2235, or by visiting www.monthlyinterest.com.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.
DPW Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a 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. DPW Holdings, Inc.’s headquarters is located at 201 Shipyard Way, Suite E, Newport Beach, CA 92663;
Kirsten Chapman, LHA Investor Relations, 415.433.3777, firstname.lastname@example.org
Globe Newswire: 11:50 GMT Friday 14th September 2018
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