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Ault Global's SPAC Ault Disruptive Technologies files for a $100 million IPO

November 5, 2021
ADRTU

Ault Disruptive Technologies, a blank check company backed by Ault Global targeting disruptive technology, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

The Las Vegas, NV-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Ault Disruptive Technologies would command a market value of $125 million.

The company is led by Chairman Todd Ault III, the Executive Chairman of diversified holding company Ault Global (NYSE American: DPW), and CEO and Director William Horne, the CEO of Ault Global. The company plans to target a business or businesses with disruptive technologies that management believes can achieve mainstream adoption and create opportunities for long-term appreciation in value.

Ault Disruptive Technologies was founded in 2021 and plans to list on the NYSE American under the symbol ADRTU. The company filed confidentially on June 29, 2021. A.G.P. is the sole bookrunner on the deal.