Oct 04COPY NEWS LINK
DPW Holdings’ Super Crypto Mining Enters $2.5 Million Line of Credit
Subsidiary Creates Flexibility to Fund Growth Using Super Crypto’s Bitcoin
Newport Beach, CA, October 4, 2018 (GLOBE NEWSWIRE) — DPW Holdings, Inc. (NYSE American: DPW) (“DPW”), a diversified holding company, today announced that its subsidiary Super Crypto Mining entered into a Revolving Loan Agreement for up to $2.5 million and in connection with a Security Agreement granting interest in certain collateral, including bitcoin.
“It is important for each subsidiary to develop its own capital structure to create flexibility and provide opportunity for expansion,” stated DPW’s CEO and Chairman Milton “Todd” Ault, III. “As Super Crypto continues its plan to increase miners, this line of credit enables Super Crypto to deploy its assets – bitcoin – to fund growth.”
Terms and more information can be found in the Form 8-K filed yesterday on October 3, 2018 with the SEC.
About DPW Holdings, Inc.
DPW Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly owned subsidiaries and strategic investments, the company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, telecommunications, medical, crypto-mining, and textiles. In addition, the company owns a select portfolio of commercial hospitality properties and extends credit to select entrepreneurial businesses through a licensed lending subsidiary. DPW Holdings, Inc.’s headquarters is located at 201 Shipyard Way, Suite E, Newport Beach, CA 92663; www.DPWHoldings.com.
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