Ault Alliance, Inc. is announcing that it has successfully secured an additional US$8.8m in senior debt financing from a group of existing institutional lenders. The company previously borrowed US$18.9m from these lenders in November 2022, which together with the new finance, have an aggregate outstanding amount of US$24.3m. The Loans mature on May 7, 2024, accumulate interest at a favourable annual rate of 8.5 per cent and are secured against select assets of the company and certain of its subsidiaries.
