Ault Alliance, Inc. announced that it has entered into a securities purchase agreement with an accredited investor for secured promissory note for gross proceeds of $1,550,000 on April 29, 2024. The transaction included participation from new lender Orchid Financial, LLC. The note carry an interest rate of 15% and will mature on May 17, 2024.

Interest shall be payable in arrears on the Maturity Date. The principal amount of the note is $1,705,000. The note is issued at $155,000 or 10% discount.

Note has been guaranteed by Ault Lending, LLC and Milton C. Ault, III.