Apr 24, 2024 (24/7 Market News via COMTEX) --
DENVER, Colo., Apr 19, 2024 (247marketnews.com)- This morning's notable listings with recent news include Brera Holdings PLC (NASDAQ:BREA), Ault Alliance, Inc. (NYSE:AULT), AGBA Group Holding Limited (NASDAQ:AGBA), and HUB Cyber Security Ltd. (Nasdaq:HUBC).
247marketnews.com interviewed Pierre Galoppi, Chief Executive Officer of Brera Holdings PLC (NASDAQ:BREA).
24/7 Market News ("24/7")- What motivated you to create Brera Holdings and pursue a Multi Club Ownership (MCO) strategy?
Pierre Galoppi ("PG")- We identified several impressive professional sports team trends and disparities that could be leveraged to generate capital gains and additional revenues. For example, professional club valuations are rapidly increasing and that trend is expected to continue into the foreseeable future. Yet, despite the fact that interest in this space is swelling, along with asking prices for available teams, select opportunities are still there for the taking and we believe that we're well positioned to identify these one-off and non-marketed clubs and unlock that value for our stakeholders.
24/7- According to the Wall Street Journal, "Limited supply is one of the main attractions of investing in sports teams, as opportunities arise only when team owners pass away or encounter troubles, per the report. It's also a status symbol for the wealthy and famous." What are your thoughts concerning this dynamic and will this affect Brera's next steps?
PG- That isn't exactly a new phenomenon, so we included that dynamic into our modeling, and we're still ahead of the curve. Having said that, the trend is strengthening and we believe that a continued rising tide should benefit Brera Holdings and our stakeholders.
Ault Alliance, Inc. (NYSE:AULT) reported that its affiliate, Ault & Company, has purchased an aggregate of 44,000 shares of Series C convertible preferred stock, for a total investment of $44 million, per its November 2023 Securities Purchase Agreement.
Milton “Todd” Ault, III, Ault's Executive Chairman and CEO, stated, “This strategic infusion of capital into the Company underscores our strong confidence in the growth trajectory and future prospects of Ault Alliance. This investment not only strengthens our balance sheet but also enhances our ability to accelerate our strategic initiatives and expand our market presence. When I started this journey with the Company in 2017, we had just reported less than $8 million in annual sales, and today we are projecting annual revenue in excess of $200 million for the current fiscal year as we focus on our core businesses: Sentinum data centers; Circle 8 crane rentals; and investing and lending. We believe our Sentinum business is well positioned for growth with the increasing demand for power in the artificial intelligence data center space. Ault & Company believes in the Company's plans for growth and expects to make additional investments to support these key businesses.
AGBA Group Holding Limited (NASDAQ:AGBA) and Triller Corp agreed to combine and create a proposed business combination that will result in a valuation of approximately $4 billion on a pro-forma basis.
Bobby Sarnevesht, Thiller's CEO, stated, "Through this merger, we are poised to accelerate our innovation trajectory and significantly expand our market presence, creating unparalleled value for our users and stakeholders globally. In addition, with the transaction approved by both company boards and majority shareholders, we believe this is the most efficient route for Triller to access public capital markets and secure the liquidity needed for rapid growth. Triller’s Digital Media, Social Selling, AI, Combat Sports, and SaaS businesses have experienced tremendous growth, and this merger positions Triller to achieve new milestones."
Wing-Fai Ng, Group President of AGBA Group Holding, said, "With a rich history of setting records and making bold moves, we believe Triller is now on the brink of an exciting future. Its groundbreaking technology, coupled with an aggressive and strategic business model, positions it not just as a formidable competitor to tech giants but as a potential game-changer in the industry. AGBA’s expertise in capitalizing on financial value from complex developments and rapid growth will provide the fuel for Triller's rocket ships. Together, we have a lot to accomplish."
HUB Cyber Security Ltd. (Nasdaq:HUBC) commented on proceedings initiated by Dominion in the US and Israel, which HUB considers to be frivolous, without merit, and an attempt to pressure HUB. HUB stated that it's "fully committed to defending its reputation and the integrity of its business operations through all necessary legal means."
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