Ault Disruptive Technologies Corp
ADRT · NYSE
NO ACTION REQUIRED
Nothing left to do
The cash went back to shareholders and the company wound up. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
In plain terms
- What it is
- A SPAC from Ault Disruptive Technologies Company, LLC, listed on NYSE in December 2021.
- What it's doing now
- It never completed a purchase. The company wound up and the cash in the account went back to shareholders — the ordinary ending when a SPAC runs out of time. No agreed deal for it is on file with us, so we cannot say whether one was ever announced and later fell through.
- What you should know
- This SPAC has finished. The cash was paid back to shareholders and the company wound up, so there is nothing left to claim — the money went where the charter said it would.
At a glance
- Where it stands
- Liquidated
- Deal
- none — it wound up and returned the cash instead
- Industry
- no filing we hold states a sector this SPAC restricted its search to
- Deal value
- no deal to value — it wound up instead
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 16 December 2021
- size not on file · 101.5% of each $10 unit into trust
- Headquarters
- 11411 SOUTHERN HIGHLANDS PKWY 240, LAS VEGAS, NV, 89141
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- AULT MILTON C III (Director) · Smith Steve Jon (Director) · Nelson Mark Christian (Director)
- Listed securities
- ADRT common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
What has happened, and what is coming
3 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 16 December 2021IPOpassed
IPO size not on file
The score
deterministic, from filed fieldsADRT is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 295 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
Ault Disruptive Technologies Corp was a blank-check company whose common stock traded on the New York Stock Exchange under the ticker ADRT. The company priced its initial public offering on December 16, 2021, according to a 424B prospectus. It was assigned SEC CIK 0001864032 and SEC SIC industry code 6770. On September 27, 2024, the company filed an 8-K announcing that it would redeem all of its outstanding shares of common stock, par value $0.001 per share, effective as of the close of business on October 11, 2024, because it would not consummate an initial business combination within the required time period, and it was thereby liquidated.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
A trust of $2.2 million at $11.68 per share means roughly 189,000 public shares remain — ADRT has been redeemed down to almost nothing, and the company later liquidated, so the $11.68 redemption right was the entire value. The 65% supermajority threshold is unusually high and gives a small holder bloc real blocking power. The explicit warning that public warrants expire worthless on a wind-up is the clearest statement of what the non-share securities were worth.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
- What changed vs 2024-05-20mandate language changed
mandate language, trust account, combination deadline +11 moved · 3 with no prior record of ours
- Mandate language
- the Company intends to focus on companies with innovative an…focus our search for prospects within the technology sector,…
- Trust account
- $116.7M · unchanged
- Combination deadline
- 2024-12-20 · unchanged
- Going-concern doubt
- stated · unchanged
The clause …“of the IPO and the exercise of the underwriters’ full over-allotment option, $ 116,725,000 was held in the Trust Account and will only be invested in United States “government securities” within the meaning of Section 2(a)(16) of the”…
The clause …“herein. It is uncertain whether we will be able to consummate an initial business combination by December 20, 2024 or obtain working capital loans from the Sponsor. If an initial business combination is not consummated by the”…
The clause …“to meet our current and future estimated financial obligations raises substantial doubt about our ability to continue as a going concern for a period of time within one year after the date that the accompanying financial”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Ault Disruptive Technologies Corporation called a virtual-only annual meeting for September 6, 2024 at 12:00 p.m. ET, with no physical location, record date August 7, 2024, and proxy materials mailed on or about August 16, 2024. As of the record date there were 3,063,875 shares of common stock outstanding, constituting all outstanding voting capital stock, with one vote per share and a majority required for a quorum. The company agreed to pay Ault, an affiliate of its sponsor, a total of $10,000 per month for office space, utilities and secretarial support. Why it matters: Routine annual meeting business rather than an extension or trust vote, but the share count tells the story of the vehicle: 3,063,875 total shares outstanding means prior redemptions have shrunk the SPAC to a fraction of its IPO size, leaving too little trust cash to fund a meaningful business combination without new financing. The $10,000 monthly administrative fee to a sponsor affiliate continues to drain working capital from a vehicle this small, and it accrues whether or not a deal is ever found.
What changed vs 2024-01-25going concern APPEAREDgoing-concern doubt, trust account, mandate language +11 moved · 3 with no prior record of ours
- Going-concern doubt
- not statedstated
- Trust account
- not previously extracted$118.8M
- Mandate language
- not previously extractedwe are focusing our search on opportunities to acquire compa…
- Combination deadline
- 2024-12-20 · unchanged
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“accounting firm’s report contains an explanatory paragraph that expresses substantial doubt about our ability to continue as a “going concern.” As of the date of this Annual Report, we had approximately $163,000 of cash available,”…
The clause …“securities held in Trust Account - 118,193,123 Total current assets 174,108 118,791,093 Prepaid expenses, non-current - 10,873 Cash and marketable securities held in Trust Account 2,200,308 - Deferred tax asset, noncurrent - 27,062”…
The clause …“additional capital it needs to fund its business operations and complete any business combination prior to December 20, 2024, if at all. The Company also has no approved plan in place to extend the business combination deadline beyond”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Ault Disruptive Technologies Company, LLCnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1280 tracked SPACs (24%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
from 424B4 0001214659-21-013276
Trading & liquidity
Company profile
Directors & officers
- AULT MILTON C IIIDirector
- Smith Steve JonDirector
- Nelson Mark ChristianDirector
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
6 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- Ault Disruptive Technologies Company, LLCwith 3 other reporting persons on the same schedule20.0% · SC 13GFeb 11, 2022 stale
- Feis Lawrence Michaelwith 1 other reporting person on the same schedule3.7% · SC 13G/AMar 23, 2022 stale
- MMCAP International Inc. SPCwith 1 other reporting person on the same schedule2.0% · SC 13G/AFeb 9, 2022 stale
- First Trust Capital Management L.P.with 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 12, 2024 stale
- Saba Capital Management, L.P.with 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 7, 2024 stale
- Lighthouse Investment Partners, LLCwith 4 other reporting persons on the same schedule0.0% · SC 13G/AJul 10, 2023 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
39 full SEC filing texts archived — searchable, never lost.
- Vault note — ADRT (Ault Disruptive Technologies Corp)
vault-note · /vault/tickers/ADRT
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail3 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001214659-21-013276 priced 2021-12-16; common ticker ADRT off 8-K 0001214659-24-016837 (2024-09-27); lifecycle EXITED. Ending PROVEN, not inferred: LIQUIDATED per 8-K 0001214659-24-016837 (2024-09-27) — announced redemption of all public shares: “…will redeem all of its outstanding shares of common stock, par value $0.001 per share (the "Common Stock"), effective as of the close of business on October 11, 2024, because the Company will not consummate an initial business combination within the time period required by its Amended and Restated Certificate of Incorp…”. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
trustPerShare $0.001 withdrawn: it was the PAR VALUE ("par value $0.0001 per share") read out of the wind-up notice, not the redemption price. No per-share payout is on file for this name.
sponsor "Ault Disruptive Technologies Company, LLC" (SEC CIK 0001900925) sourced from Form 3 reportingOwner (10% owner) acc 0001214659-21-013528.