Ault Alliance Signs Listing Agreement to Sell St. Petersburg High-rise Multifamily Project for $20M Asking Price
Portfolio Pulse from Benzinga Newsdesk
Ault Alliance, Inc. (NYSE:AULT) has listed its St. Petersburg, Florida multifamily development site for sale at an asking price of $20M. The decision to sell is driven by the company's desire to focus on its core businesses and the current macroeconomic climate. The proceeds from the sale will be used to pay off debt and invest more in its core businesses.
October 02, 2023 | 10:31 am
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Ault Alliance's decision to sell its St. Petersburg property could potentially free up capital for its core businesses and reduce its debt. This could have a positive impact on the company's financial health and stock price.
The sale of the property could provide Ault Alliance with additional capital to invest in its core businesses and reduce its debt. This could improve the company's financial health and make it more attractive to investors, potentially leading to an increase in its stock price.
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