false 0001864032 0001864032 2024-08-15 2024-08-15 0001864032 ADTC:UnitsEachConsistingOfOneShareOfCommonStockParValue0.001PerShareAndThreefourthsOfOneRedeemableWarrantToPurchaseOneShareOfCommonStockMember 2024-08-15 2024-08-15 0001864032 ADTC:CommonStockParValue0.001PerShareMember 2024-08-15 2024-08-15 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): August 15, 2024

 

 

 

Ault Disruptive Technologies Corporation

(Exact Name of Registrant as Specified in Charter)

 

 

 

Delaware   001-41171   86-2279256

(State or Other Jurisdiction

of Incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

11411 Southern Highlands Parkway, Suite 240

Las Vegas, Nevada 89141

(Address of Principal Executive Offices) (Zip Code)

 

(949) 444-5464

(Registrant’s telephone number, including area code)

 

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

  ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class  

Trading

Symbol(s)

  

Name of each exchange

on which registered

Units, each consisting of one share of Common Stock, par value $0.001 per share and three-fourths of one Redeemable Warrant to purchase one share of Common Stock   ADRTU   NYSE American LLC
Common Stock, par value $0.001 per share   ADRT   NYSE American LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

 

Emerging growth company x

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

 

 

  
 

 

Item 1.02. Termination of a Material Definitive Agreement.

 

As previously disclosed, on June 23, 2024, Ault Disruptive Technologies Corporation, a Delaware corporation (the “Company”), entered into an Agreement and Plan of Merger (as it may be amended, supplemented or otherwise modified from time to time, the “Merger Agreement”) by and among the Company, ADRT Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of the Company (“Merger Sub”), and Gresham Worldwide, Inc., a California corporation (“Gresham”).

 

On August 15, 2024, the Company delivered a termination notice to Gresham notifying it that the Company was exercising its right to terminate the Merger Agreement effective August 15, 2024 because Gresham recently filed for bankruptcy. No termination fee or other payment is due to any party to the Merger Agreement from any of the other parties as a result of the termination. Following the termination, Ault Alliance, Inc. will continue to beneficially own a majority of each of the Company’s and Gresham’s shares of common stock and the Boards of Directors of Ault Alliance, Inc., the Company and Gresham will consist of several identical members.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
101   Pursuant to Rule 406 of Regulation S-T, the cover page is formatted in Inline XBRL (Inline eXtensible Business Reporting Language).
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

  
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

             
Dated: August 15, 2024       AULT DISRUPTIVE TECHNOLOGIES CORPORATION
       
        By:  

/s/ Henry Nisser

        Name:   Henry Nisser
        Title:   President and General Counsel

 

 

 

 

 

 

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Cover
Aug. 15, 2024
Document Type 8-K
Amendment Flag false
Document Period End Date Aug. 15, 2024
Entity File Number 001-41171
Entity Registrant Name Ault Disruptive Technologies Corporation
Entity Central Index Key 0001864032
Entity Tax Identification Number 86-2279256
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One 11411 Southern Highlands Parkway
Entity Address, Address Line Two Suite 240
Entity Address, City or Town Las Vegas
Entity Address, State or Province NV
Entity Address, Postal Zip Code 89141
City Area Code (949)
Local Phone Number 444-5464
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company true
Elected Not To Use the Extended Transition Period false
Units, each consisting of one share of Common Stock, par value $0.001 per share and three-fourths of one Redeemable Warrant to purchase one share of Common Stock  
Title of 12(b) Security Units, each consisting of one share of Common Stock, par value $0.001 per share
Trading Symbol ADRTU
Security Exchange Name NYSE
Common Stock, par value $0.001 per share  
Title of 12(b) Security Common Stock, par value $0.001 per share
Trading Symbol ADRT
Security Exchange Name NYSE
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