Ault Alliance, Inc. closed the transaction on December 14, 2023. The company has issued 41,500 shares of Series C convertible preferred stock and and warrants (the ? Series C Warrants ?) to purchase 306,725,795 shares of the Company?s common stock in three separate closings for gross proceeds of $41.5 million investment from Ault & Company, Inc. In the first closing, the Purchaser purchased 21,500 shares of Series C Convertible Preferred Stock and Series C Warrants to purchase 158,906,135 shares of Common Stock, for a purchase price of $21.5 million, paid in cash (the ?

Initial Closing ?,thereafter, at the second closing (the ? Second Closing ?), the Purchaser purchased 10,000 shares of Series C Convertible Preferred Stock and Series C Warrants to purchase 73,909,830 shares of Common Stock, for a purchase price of $10.0 million, paid in cash and thereafter, at the third closing (the ? Third Closing ?), the Purchaser purchased another 10,000 shares of Series C Convertible Preferred Stock and Series C Warrants to purchase another 73,909,830 shares of Common Stock, for a purchase price of $10.0 million, paid in cash.