Ault Disruptive Technologies to redeem shares, will not pursue combination

Ault Disruptive Technologies, a publicly-traded special purpose acquisition company, announced that its board of directors has determined to redeem all of its outstanding shares of common stock because the company will not consummate an initial business combination within the time period required by its Amended and Restated Certificate of Incorporation. The estimated per-share redemption price for the public shares will be approximately $11.18. The last day that the company’s securities will trade on the New York Stock Exchange American is expected to be October 10, 2024. Effective as of the close of business on October 11, 2024, the public shares will be deemed cancelled and will represent only the right to receive the Redemption Amount.