DPW Holdings Announces Realignment of Corporate Structure

NEWPORT BEACH, Calif., May 19, 2020 (GLOBE NEWSWIRE) — DPW Holdings, Inc. (NYSE American: DPW), a diversified holding company (“DPW,” or the “Society”), hereby announces that its Board of Directors has approved a plan to realign its corporate structure. The realignment is intended to improve DPW’s ability to achieve its objectives, including its growth strategy, as well as to help its investors and others better understand the components and purpose of each business segment. DPW Holdings will structure the Company into three distinct groups: Gresham Worldwide, Coolisys Technologies Corp. (“Coolisys”) and DPW Financial Group.

Gresham around the world, led by its CEO, Jonathan Read, consists of three established companies that provide high-quality, high-reliability bespoke technology solutions required for mission-critical applications in the defense, medical and telecommunications industries. The three component companies are Microphase Corporation, Enertec Systems 2001 Ltd. and Gresham Power Electronics Ltd.; each has a 30+ year history as a global defense contractor. Gresham Worldwide operates with a global footprint with headquarters in Phoenix, Arizona, an office in Washington DC and design and operations centers in Shelton, Connecticut, Salisbury, UK, and Karmiel, Israel.

Coolisys, led by its CEO, Amos Kohn and based in Silicon Valley, consists of its subsidiary, Digital Power Corporation, founded in 1969, and its Power-Plus Technical Distributors brand. Coolisys offers a variety of power electronics products, including ruggedized, modified, off-the-shelf designs, or complete custom designs, from its in-house design team. Coolisys products are designed to serve critical applications in the harshest environments and for rescue and life support applications in various markets.

DPW Financial Groupled by its CEO, Darren Magot, will focus on lending through its subsidiary, Digital Power Lending (“PD Loans”), as well as investing in new initiatives. As part of the realignment, DPW Financial Group will own the company’s investments in life sciences, materials science, e-commerce and hospitality businesses, including internally incubated businesses. DP Lending operates under California Finance Lending License #60DBO-77905 and finances small businesses through loans that provide working capital to fund the growth of their businesses. DP Lending also operates www.MonthlyInterest.com, an online fintech portal that facilitates investments that pay monthly interest. Pursuant to the Investment Companies Act 1940, companies which substantially all of their business is confined to the making of small loans, industrial banking or similar activities, such as DP Lending, are excluded from the definition of an investment company.

DPW CEO and Chairman Milton “Todd” Ault, III said, “When we began our realignment of the business, our goal was to redeploy existing assets and resources with greater efficiency and provide a path to maximize revenue generation and improved results.As a holding company, our business strategy is designed to increase shareholder value.Therefore, we are focused on managing and financially supporting our existing subsidiaries in the goal of maximizing value returned to shareholders As we previously announced, we will consider various initiatives, including public offerings or the sale of individual businesses, as well as other opportunities to maximize shareholder value.

For more information about DPW Holdings and its subsidiaries, the Company recommends that shareholders, investors and other interested parties read the Company’s public documents and press releases available in the Investor Relations section at address www.DPWHoldings.com or available on www.sec.gov.

About DPW Holdings, Inc.

DPW Holdings, Inc. is a diversified holding company that continues to grow by acquiring undervalued companies and disruptive technologies with global impact. Through its wholly and majority owned subsidiaries and strategic investments, the Company provides mission-critical products that support a wide range of industries, including defense/aerospace, industrial, telecommunications, medical and textiles. In addition, the Company extends credit to certain entrepreneurial businesses through an approved lending subsidiary. DPW’s head office is located at 201 Shipyard Way, Suite E, Newport Beach, CA 92663; www.DPWHoldings.com.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend on or refer to future events or conditions, and include words such as “believes”, “plans”, “anticipates”, “projects”, “estimates”, “expects”, “intends”, “strategy”, “future”, “opportunity”, “may”, “will”, “should”, “could”, “potential” or similar expressions . Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement due to a variety of factors. Further information, including potential risk factors, that could affect the Company’s business and financial results is included in the Company’s filings with the United States Securities and Exchange Commission, including, but without limitation, Company Forms 10-K, 10-Q and 8. -K. All records are available at www.sec.gov and on the Company’s website at www.DPWHoldings.com.