DPW Holdings Eliminates All Secured Debt Totaling Approximately $ 5 Million


Company positioned to attract more traditional financing to finance the order book, new orders and initiatives

NEWPORT BEACH, Calif., October 26, 2020 (GLOBE NEWSWIRE) – DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW, “or the”Society“) announced that the Company has since February 2020 converted all of its secured debt, totaling just under $ 5 million, into equity, thereby improving the Company’s net equity.

The Company sees several advantages in this development, including the Company’s ability to attract more traditional bank financing on potentially better terms to finance the reduction of production delays and the fulfillment of new orders by its subsidiaries Gresham Worldwide, Inc. and Coolisys Technologies Corp. The company previously announced its support for Coolisys’ entry into the electric vehicle chargers and ESS energy storage market and looks forward to meeting this commitment and securing new funding for future strategic acquisitions.

Milton “Todd” Ault, III, CEO and Chairman of DPW said: Glad we have made the Company more financially sound than it has been for over two years and look forward to our future. The conversion of nearly $ 5 million of guaranteed debt into equity since February 2020 not only strengthens the Company’s balance sheet but the absence of privileges should allow us to obtain more favorable conditions to finance our production backlog, capitalize our future growth through our subsidiaries, give our subsidiaries access to more traditional financing including bank finance debt and lines of credit and make future acquisitions. Ault added, “The company has set a target in 5 years, starting in 2018, to reach $ 100 million in gross annual revenue. Despite the impact Covid-19 has had on us, eliminating secured debt goes a long way in helping the Company grow organically and through acquisitions. This recent effort and over the past year to improve our balance sheet, reduce expenses and increase profitability is expected to translate into greater shareholder value as we execute our plans for the remainder of 2020 and through 2021. . ”

For more information about DPW Holdings and its subsidiaries, the Company recommends that shareholders, investors and other interested parties read the Company’s public documents and press releases available in the Investor Relations section of www.DPWHoldings.com or available at www.sec.gov.

About DPW Holdings, Inc.

DPW Holdings, Inc. is a diversified holding company that continues to grow by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority owned subsidiaries and strategic investments, the Company provides mission critical products that support a wide range of industries including defense / aerospace, industrial, telecommunications, medical and textiles. In addition, the Company grants credit to certain entrepreneurial businesses through an approved lending subsidiary. DPW’s head office is located at 201 Shipyard Way, Suite E, Newport Beach, CA 92663; www.DPWHoldings.com.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend on or refer to future events or conditions, and include words such as “believes”, “plans”, “plans”, “plans”, “estimates” , “expects”, “intends”, “strategy”, “future”, “opportunity”, “may”, “will”, “should”, “could”, “potential” or similar expressions. statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date on which they are made. made, and the Company does not undertake to update them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement due to e various factors. Further information, including potential risk factors, that could affect the business and financial results of the Company is included in the documents filed by the Company with the United States Securities and Exchange Commission, including, but not limited to without limitation, the Company’s 10-K, 10-Q and 8 forms. -K. All filed documents are available at www.sec.gov and on the Company’s website at www.DPWHoldings.com.

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