Securities Registration: Employee Benefit Plan (s-8)
10 September 2019 - 6:47AM
Edgar (US Regulatory)
As filed with the Securities and Exchange
Commission on September 9, 2019
Registration No. 333-________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933
DPW Holdings, Inc.
(Exact name of registrant as specified in
its charter)
Delaware
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94-1721931
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(State or other jurisdiction of
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(I.R.S. Employer
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incorporation or organization)
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Identification No.)
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201 Shipyard Way
Newport Beach, CA 92663
(Address of principal executive offices)
(Zip Code)
Amended and Restated 2018 Stock Incentive
Plan
(Full title of the plan)
Milton C. Ault, III
Chief Executive Officer
DPW Holdings, Inc.
201 Shipyard Way
Newport Beach, CA 92663
(Name and Address of agent for service)
(949) 444-5464
(Telephone number, including area code,
of agent for service)
With a copy to:
Marc J. Ross, Esq.
Sichenzia Ross Ference LLP
1185 Avenue of the Americas, 37th
Floor
New York, NY 10036
Phone: (212) 930-9700
Fax: (212) 930-9725
Indicate by check
mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company
or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller
reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act:
Large accelerated filer
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¨
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Accelerated filer
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¨
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Non-accelerated filer
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x
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Smaller reporting company
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x
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Emerging growth company
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¨
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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 7(a)(2)(B) of the Securities
Act. ¨
CALCULATION OF REGISTRATION FEE
Title of Securities
to be Registered
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Amount to be
Registered (1)
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Proposed
Maximum Offering
Price Per Share
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Proposed
Maximum
Aggregate Offering
Price
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Amount of
Registration Fee
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Class A common stock, $0.001 par value
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175,000
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(2)
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$
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3.07
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(3)
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$
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537,250
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$
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65.11
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TOTAL
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175,000
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$
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3.07
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(3)
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$
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537,250
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$
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65.11
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(1)
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This Registration Statement also registers an indeterminable number of additional securities to be offered or issued upon adjustments or changes made to registered securities by reason of any stock splits, stock dividends or similar transactions as permitted by Rule 416(a) and Rule 416(b) under the Securities Act of 1933, as amended, or the Securities Act.
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(2)
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Represents shares of Class A common stock reserved for future issuance pursuant to the Amended and Restated 2018 Stock Incentive Plan.
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(3)
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Estimated pursuant to Rule 457(c) and (h) solely for purposes of calculating the aggregate offering price and the amount of the registration fee based upon the average of the high and low prices reported for the shares on the NYSE American on September 3, 2019.
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PART I
INFORMATION REQUIRED IN THE SECTION 10(a)
PROSPECTUS
The information called
for by Part I of Form S-8 is omitted from this Registration Statement in accordance with Rule 428 of the Securities Act of 1933,
as amended (the “Securities Act”), and the instructions to Form S-8. In accordance with the rules and regulations of
the Securities and Exchange Commission (the “SEC”) and the instructions to Form S-8, such documents are not being filed
with the SEC either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424.
PART II
INFORMATION NOT REQUIRED IN THE PROSPECTUS
Item 3. Incorporation of Documents by
Reference.
We
incorporate by reference the filed documents listed below, except as superseded, supplemented or modified by this prospectus,
and any future filings we will make with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act (unless otherwise
noted, the SEC file number for each of the documents listed below is 001-12711):
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·
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Our Annual Report on Form 10-K for the period ended December 31, 2018;
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·
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Quarterly Reports on Form 10-Q for the quarters
ended June 30, 2019;
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·
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Current Reports on Form 8-K filed with the SEC on January 3, 2019, January 7, 2019, January 10, 2019,
both amendments filed on January 14, 2019, January 24, 2019, February 5, 2019, February 20, 2019, February 25, 2019, February 28,
2019, March 14, 2019, March 21, 2019, March 29, 2019 and April 1, 2019; amendment filed on April 4, 2019; April 16, 2019; May 1,
2019; both reports filed on May 20, 2019; May 28, 2019; June 5, 2019; an amendment filed on June 12, 2019; June 18, 2019; an amendment
filed on June 27, 2019; three reports filed on July 2, 2019; July 5, 2019; July 9, 2019; July 19, 2019, August 5, 2019; August
6, 2019; August 7, 2019; August 26, 2019; and September 4, 2019;
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·
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Our proxy statement dated June 7, 2019; and
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·
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The description of the common stock contained in Form 8-A, including any amendments or reports filed for the purpose of updating such description.
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We also incorporate
by reference into this prospectus additional documents (other than current reports furnished under Item 2.02 or Item 7.01 of Form 8-K
and exhibits on such form that are related to such items) that we may file with the SEC under Sections 13(a), 13(c), 14 or 15(d) of
the Exchange Act prior to the completion or termination of the offering, including all such documents we may file with the SEC
after the date of the initial registration statement and prior to the effectiveness of the registration statement, but excluding
any information deemed furnished and not filed with the SEC. Any statements contained in a previously filed document incorporated
by reference into this prospectus is deemed to be modified or superseded for purposes of this prospectus to the extent that a statement
contained in this prospectus, or in a subsequently filed document also incorporated by reference herein, modifies or supersedes
that statement.
This prospectus may
contain information that updates, modifies or is contrary to information in one or more of the documents incorporated by reference
in this prospectus. You should rely only on the information incorporated by reference or provided in this prospectus. We have not
authorized anyone else to provide you with different information. You should not assume that the information in this prospectus
is accurate as of any date other than the date of this prospectus, or the date of the documents incorporated by reference in this
prospectus.
We will provide to
each person, including any beneficial owner, to whom this prospectus is delivered, upon written or oral request, at no cost to
the requester, a copy of any and all of the information that is incorporated by reference in this prospectus.
You may request, and
we will provide you with, a copy of these filings, at no cost, by contacting us at:
DPW Holdings, Inc.,
201 Shipyard Way,
Newport Beach, CA 92663
Tel.: (949) 444-5464
Attention: Milton C. Ault III, Chief Executive
Officer
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and
Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Section
145 of the Delaware General Corporation Law (the “DGCL”) empowers a Delaware corporation to indemnify any persons who
are, or are threatened to be made, parties to any threatened, pending, or completed legal action, suit, or proceeding, whether
civil, criminal, administrative, or investigative (other than an action by or in the right of such corporation), by reason of the
fact that such person was an officer or director of such corporation, or is or was serving at the request of such corporation as
a director, officer, employee, or agent of another corporation or enterprise. The indemnity may include expenses (including attorneys’
fees), judgments, fines, and amounts paid in settlement actually and reasonably incurred by such person in connection with such
action, suit, or proceeding, provided that such officer or director acted in good faith and in a manner he reasonably believed
to be in or not opposed to the corporation’s best interests, and, for criminal proceedings, had no reasonable cause to believe
his conduct was illegal. A Delaware corporation may indemnify officers and directors in an action by or in the right of the corporation
under the same conditions, except that no indemnification is permitted without judicial approval if the officer or director is
adjudged to be liable to the corporation in the performance of his duty. Where an officer or director is successful on the merits
or otherwise in the defense of any action referred to above, the corporation must indemnify him against the expenses which such
officer or director actually and reasonably incurred.
Our
bylaws provide that we will indemnify our directors and officers to the fullest extent permitted by Delaware law, except that no
indemnification will be provided to a director, officer, employee, or agent if the indemnification sought is in connection with
a proceeding initiated by such person without the authorization of our board of directors. The bylaws also provide that the right
of directors and officers to indemnification shall be a contract right and shall not be exclusive of any other right now possessed
or hereafter acquired under any statute, provision of the certificate of incorporation, bylaw, agreement, vote of stockholders
or disinterested directors or otherwise. The bylaws also permit us to secure insurance on behalf of any officer, director, employee,
or other agent for any liability arising out of his or her actions in such capacity, regardless of whether the bylaws would permit
indemnification of any such liability.
In accordance
with Section 102(b)(7) of the DGCL, our certificate of incorporation provides that directors shall not be personally liable for
monetary damages for breaches of their fiduciary duty as directors except for (i) breaches of their duty of loyalty to us or our
stockholders, (ii) acts or omissions not in good faith or which involve intentional misconduct or knowing violations of law, (iii)
certain transactions under Section 174 of the DGCL (unlawful payment of dividends or unlawful stock purchases or redemptions),
or (iv) transactions from which a director derives an improper personal benefit. The effect of this provision is to eliminate the
personal liability of directors for monetary damages or actions involving a breach of their fiduciary duty of care, including any
actions involving gross negligence.
In addition,
we have entered into indemnification agreements with our directors and officers that require us, among other things, to indemnify
them against certain liabilities that may arise by reason of their status or service, so long as the indemnitee acted in good faith
and in a manner the indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect
to any criminal action or proceeding, the indemnitee had no reasonable cause to believe his or her conduct was unlawful. We also
maintain director and officer liability insurance to insure our directors and officers against the cost of defense, settlement
or payment of a judgment under specified circumstances.
Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling
the Registrant pursuant to the foregoing provisions, the Registrant has been informed that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
Item 9. Undertakings.
A. The undersigned Registrant hereby undertakes:
1. To file, during
any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i) To include
any prospectus required by section 10(a)(3) of the Securities Act;
(ii) To reflect
in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the
Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar
value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated
maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth
in the “Calculation of Registration Fee” table in the effective Registration Statement.
(iii) To include
any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any
material change to such information in the Registration Statement;
Provided, however, that
paragraphs (A)(1)(i) and (A)(1)(ii) do not apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in reports filed with or furnished to the SEC by the Registrant pursuant to section 13 or
section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.
2. That, for the purpose
of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered herein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.
3. To remove from
registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination
of the offering.
B. The undersigned Registrant hereby undertakes
that, for purposes of determining any liability under the Securities Act, each filing of the Registrant’s annual report pursuant
to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit
plan’s annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in the Registration
Statement shall be deemed to be a new registration statement relating to the securities offered herein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.
C. Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to
the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid
by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will,
unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities
Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements
for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in Newport Beach, California, on September 9, 2019.
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DPW Holdings, Inc.
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By:
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/s/ Milton C. Ault, III
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Milton C. Ault, III,
Chief Executive Officer (Principal Executive Officer)
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By:
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/s/ William B. Horne
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William B. Horne
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Chief Financial Officer (Principal Financial Officer)
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POWER OF ATTORNEY
KNOW ALL PERSONS BY
THESE PRESENTS, each director and officer whose signature appears below constitutes and appoints Milton Ault, III his true and
lawful attorney-in-fact and agent, with full power of substitution and re-substitution, to sign in any and all capacities any and
all amendments or post-effective amendments to this registration statement on Form S-8, and to sign any and all additional registration
statements relating to the same offering of securities of the Registration Statement that are filed pursuant to Rule 462(b) of
the Securities Act, and to file the same with all exhibits thereto and other documents in connection therewith with the Securities
and Exchange Commission, granting such attorney-in-fact and agent full power and authority to do all such other acts and execute
all such other documents as he may deem necessary or desirable in connection with the foregoing, as fully as the undersigned may
or could do in person, hereby ratifying and confirming all that such attorney-in-fact and agent may lawfully do or cause to be
done by virtue hereof.
Pursuant to the requirements
of the Securities Act of 1933, this Registrant Statement has been signed by the following persons in the capacities and on the
dates indicated.
Name
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Title
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Date
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By: /s/ Milton Ault, III
Milton Ault, III
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Chairman and Chief Executive Officer (Principal
Executive Officer)
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September 9, 2019
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By: /s/ William Horne
William Horne
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Chief Financial Officer and Director (Principal
Accounting Officer)
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September 9, 2019
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By: /s/ Amos Kohn
Amos Kohn
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Director
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September 9, 2019
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By: /s/ Robert O. Smith
Robert O. Smith
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Director
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September 9, 2019
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By: /s/ Mordechai Rosenberg
Mordechai Rosenberg
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Director
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September 9, 2019
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By: /s/ Jeffrey Bentz
Jeffrey Bentz
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Director
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September 9, 2019
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