AULT INCORPORATED ANNOUNCES PUBLIC OFFERING.MINNEAPOLIS--(BUSINESS WIRE)--Oct. 29, 1996--Ault Incorporated announced today that it has filed a registration statement with the Securities and Exchange Commission for the sale of 1,800,000 shares of its common stock. The shares will be sold to the public through an underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. group led by Principal Financial Securities, Inc. of Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. and Cruttenden Roth, Inc. of Irvine, CA. The Company expects the offering to become available to the public in November. Proceeds of the offering are to be used for working capital, repayment of bank debt, purchase of capital equipment and expansion of manufacturing capabilities in South Korea, China and Thailand. The Company has 2,128,776 shares of common stock outstanding prior to the offering and will have 3,928,776 shares after the offering. This registration has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This notice shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration of qualification under the securities law of any such state. Ault is the largest independent manufacturer of external power conversion products in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and is a leading supplier of these products to original equipment manufacturers of telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. , computer peripherals and medical equipment. The Company's common stock is traded on the Nasdaq Small-Cap Market under the symbol AULT. CONTACT: AT AULT INCORPORATED CARLOS MONTAGUE, 612/493-1900 |
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