Ault Disruptive Technologies Corp. Closes $115M IPO

Olshan acted as counsel to Ault Disruptive Technologies Corporation in its $115 million initial public offering of units (consisting of common stock and warrants), which are now trading on the NYSE American exchange. Ault Disruptive Technologies is a blank-check special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses with a focus on emerging technologies. A.G.P./Alliance Global Partners served as sole book-running manager and Brookline Capital Markets served as co-manager for the offering.

The Olshan team consisted of corporate partners Spencer G. Feldman and Kenneth A. Schlesinger and corporate associate Zachary E. Freedman. The firm also represents BitNile Holdings, Inc. (formerly Ault Global Holdings, Inc.), the NYSE traded parent company of the SPAC’s sponsor. The public offering closed on December 20, 2021.