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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">As filed with the Securities and Exchange
  Commission on September 9, 2019</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Registration No. 333-________</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
  <!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>
  
  <P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
  
  <P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-8</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT UNDER THE SECURITIES
  ACT OF 1933</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: bold 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DPW Holdings, Inc.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
  its charter)</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
      <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
      <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>94-1721931</B></FONT></TD></TR>
  <TR>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or other jurisdiction of</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer</FONT></TD></TR>
  <TR>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">incorporation or organization)</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Identification No.)</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>201 Shipyard Way</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Newport Beach, CA 92663</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)
  (Zip Code)</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Amended and Restated 2018 Stock Incentive
  Plan</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Full title of the plan)</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Milton C. Ault, III</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Chief Executive Officer</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DPW Holdings, Inc.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>201 Shipyard Way</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Newport Beach, CA 92663</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name and Address of agent for service)</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(949) 444-5464</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Telephone number, including area code,
  of agent for service)</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>With a copy to:</I></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Marc J. Ross, Esq.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Sichenzia Ross Ference LLP</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">1185 Avenue of the Americas, 37<SUP>th</SUP>
  Floor</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">New York, NY 10036</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Phone: (212) 930-9700</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Fax: (212) 930-9725</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">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 &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller
  reporting company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act:</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
      <TD STYLE="width: 42%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large&nbsp;accelerated&nbsp;filer</FONT></TD>
      <TD STYLE="width: 3%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
      <TD STYLE="width: 53%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer</FONT></TD>
      <TD STYLE="width: 2%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated&nbsp;filer</FONT></TD>
      <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller&nbsp;reporting&nbsp;company</FONT></TD>
      <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging&nbsp;growth&nbsp;company</FONT></TD>
      <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">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&nbsp;7(a)(2)(B) of the Securities
  Act.&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>
  
  <!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 12pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>
  
  <!-- Field: Page; Sequence: 1 -->
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      <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 8pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
      <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title of Securities<BR>
  to be Registered</B></FONT></TD>
      <TD>&nbsp;</TD>
      <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount to be<BR>
  Registered (1)</B></FONT></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed<BR>
  Maximum Offering<BR>
  Price Per Share</B></FONT></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed<BR>
  Maximum<BR>
  Aggregate Offering<BR>
  Price</B></FONT></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount of<BR>
  Registration Fee</B></FONT></TD>
      <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A common stock, $0.001 par value</FONT></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">175,000</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
      <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.07</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
      <TD STYLE="width: 7%; text-align: right; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">537,250&nbsp;</FONT></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
      <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">65.11</FONT></TD>
      <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>175,000</B></FONT></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
      <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.07</B></FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(3)</B></FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
      <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>537,250&nbsp;</B></FONT></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
      <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>65.11</B></FONT></TD>
      <TD>&nbsp;</TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
      <TD STYLE="width: 24px">&nbsp;</TD>
      <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents shares of Class A common stock reserved for future issuance pursuant to the Amended and Restated 2018 Stock Incentive Plan.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART I</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE SECTION 10(a)
  PROSPECTUS</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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 &ldquo;Securities Act&rdquo;), and the instructions to Form S-8. In accordance with the rules and regulations of
  the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) 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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><BR>
  &nbsp;</P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION NOT REQUIRED IN THE PROSPECTUS</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 3. Incorporation of Documents by
  Reference.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">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&nbsp;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-</FONT>12711<FONT STYLE="font-family: Times New Roman, Times, Serif">):</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
      <TD STYLE="width: 48px">&nbsp;</TD>
      <TD STYLE="width: 48px; padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our Annual Report on Form 10-K for the period ended December 31, 2018;</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 60.5pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
      <TD STYLE="width: 48px">&nbsp;</TD>
      <TD STYLE="width: 48px; padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quarterly Reports on Form 10-Q for the quarters
      ended June 30, 2019;</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 60.5pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
      <TD STYLE="width: 48px">&nbsp;</TD>
      <TD STYLE="width: 48px; padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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;</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 60.5pt; text-align: justify; text-indent: -0.25in">&nbsp;&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
      <TD STYLE="width: 48px">&nbsp;</TD>
      <TD STYLE="width: 48px; padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our proxy statement dated June 7, 2019; and</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 76.5pt; text-align: justify; text-indent: -34pt">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
      <TD STYLE="width: 48px">&nbsp;</TD>
      <TD STYLE="width: 48px; padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The description of the common stock contained in Form 8-A, including any amendments or reports filed for the purpose of updating such description.</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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&nbsp;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)&nbsp;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.&nbsp; 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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You may request, and
  we will provide you with, a copy of these filings, at no cost, by contacting us at:</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DPW Holdings, Inc.,</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">201 Shipyard Way,</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Newport Beach, CA 92663</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Tel.: (949) 444-5464</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Attention: Milton C. Ault III, Chief Executive
  Officer</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 4. Description of Securities.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not applicable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 5. Interests of Named Experts and
  Counsel.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <!-- Field: Page; Sequence: 4 -->
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>Item 6. Indemnification of Directors and Officers.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2pt 0pt 0.4pt; text-align: justify; text-indent: 35.6pt">Section
  145 of the Delaware General Corporation Law (the &ldquo;DGCL&rdquo;) 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&rsquo;
  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&rsquo;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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1pt; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1pt 0pt 0.4pt; text-align: justify; text-indent: 35.6pt">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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2pt; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1pt 0pt 0.4pt; text-align: justify; text-indent: 35.6pt">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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1pt; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt; text-align: justify; text-indent: 35.7pt">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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1pt 0pt 0.2pt; text-align: justify; text-indent: 35.8pt">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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 7. Exemption from Registration Claimed.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not applicable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 8. Exhibits.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
      <TD STYLE="width: 15%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit Number</B></FONT></TD>
      <TD STYLE="width: 1%">&nbsp;</TD>
      <TD STYLE="width: 84%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/896493/000121465919004113/dpw67190def14a.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amended and Restated 2018 Stock Incentive Plan, incorporated herein by reference to Appendix B to our <BR>
  Definitive Proxy Statement on Schedule 14A, filed with the SEC on June 7, 2019</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex5_1.htm" STYLE="-sec-extract: exhibit">Opinion of Sichenzia Ross Ference LLP</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex23_1.htm">Consent of Marcum LLP</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
      <TD>23.2</TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="ex23_2.htm">Consent of BDO</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.3</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex5_1.htm" STYLE="-sec-extract: exhibit">Consent of Sichenzia Ross Ference LLP (included in Exhibit 5.1)</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="#poa"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Powers of Attorney (included on signature page)</FONT></A></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9. Undertakings.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A. The undersigned Registrant hereby undertakes:</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>
  
  <!-- Field: Page; Sequence: 5 -->
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">1. To file, during
  any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"></P>
  
  <!-- Field: Page; Sequence: 6 -->
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      <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 8pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">(i)&nbsp;To include
  any prospectus required by section 10(a)(3)&nbsp;of the Securities Act;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">(ii)&nbsp;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&nbsp;424(b)&nbsp;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 &ldquo;Calculation of Registration Fee&rdquo; table in the effective Registration Statement.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">(iii)&nbsp;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;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><I>Provided, however,</I>&nbsp;that
  paragraphs (A)(1)(i)&nbsp;and (A)(1)(ii)&nbsp;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&nbsp;13 or
  section&nbsp;15(d)&nbsp;of the Exchange Act that are incorporated by reference in the Registration Statement.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">B. The undersigned Registrant hereby undertakes
  that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&rsquo;s annual report pursuant
  to Section&nbsp;13(a)&nbsp;or Section&nbsp;15(d)&nbsp;of the Exchange Act (and, where applicable, each filing of an employee benefit
  plan&rsquo;s annual report pursuant to section 15(d)&nbsp;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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <!-- Field: Page; Sequence: 7 -->
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DPW Holdings, Inc.</B></FONT></TD>
      </TR>
  <TR>
      <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: top; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: bottom; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      </TR>
  <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
      <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Milton C. Ault, III</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Milton C. Ault, III,</P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Executive Officer (Principal Executive Officer)</P></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
      <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
      <TD STYLE="border-bottom: black 1pt solid; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ William B. Horne</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">William B. Horne</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer (Principal Financial Officer)</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="poa"></A><B>POWER OF ATTORNEY</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
      <TD STYLE="width: 31%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
      <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 45%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title</B></FONT></TD>
      <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By: <U>/s/ Milton Ault, III</U></P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Milton Ault, III</P></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman and Chief Executive Officer (Principal</FONT></P>
          <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Executive Officer)</FONT></P></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 9, 2019</P></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By: <U>/s/ William Horne</U></P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">William Horne</P></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer and Director (Principal</FONT></P>
          <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accounting Officer)</FONT></P></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 9, 2019</P></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By:<U>&nbsp;/s/ Amos Kohn</U></P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Amos Kohn</P></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 9, 2019</P></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By:<U>&nbsp;/s/ Robert O. Smith</U></P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Robert O. Smith</P></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 9, 2019</P></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By:<U>&nbsp;/s/ Mordechai Rosenberg</U></P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mordechai Rosenberg</P></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 9, 2019</P></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By:<U>&nbsp;/s/ Jeffrey Bentz</U></P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Jeffrey Bentz</P></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 9, 2019</P></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
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metadata_documents: [{"type": "S-8", "sequence": "1", "filename": "m94190s8.htm", "secsgml_size_bytes": 65665}]
metadata_filer: {"company-data": {"conformed-name": "DPW Holdings, Inc.", "cik": "0000896493", "assigned-sic": "3679", "irs-number": "941721931", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-233681", "film-number": "191083508"}, "business-address": {"street1": "201 SHIPYARD WAY", "street2": "SUITE E", "city": "NEWPORT BEACH", "state": "CA", "zip": "92663", "phone": "(949) 444-5464"}, "mail-address": {"street1": "201 SHIPYARD WAY", "street2": "SUITE E", "city": "NEWPORT BEACH", "state": "CA", "zip": "92663"}, "former-company": {"former-conformed-name": "DIGITAL POWER CORP", "date-changed": "19960823"}}
text: 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
  94-1721931
  (State or other jurisdiction of
  (I.R.S. Employer
  incorporation or organization)
  Identification No.)
  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, 37
  th
  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
  ¨
  Accelerated filer
  ¨
  Non-accelerated filer
  x
  Smaller reporting company
  x
  Emerging growth company
  ¨
  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
  Amount to be
  Registered (1)
  Proposed
  Maximum Offering
  Price Per Share
  Proposed
  Maximum
  Aggregate Offering
  Price
  Amount of
  Registration Fee
  Class A common stock, $0.001 par value
  175,000
  (2)
  $
  3.07
  (3)
  $
  537,250
  $
  65.11
  TOTAL
  175,000
  $
  3.07
  (3)
  $
  537,250
  $
  65.11
  (1)
  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.
  (2)
  Represents shares of Class A common stock reserved for future issuance pursuant to the Amended and Restated 2018 Stock Incentive Plan.
  (3)
  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.
  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
  ):
  ·
  Our Annual Report on Form 10-K for the period ended December 31, 2018;
  ·
  Quarterly Reports on Form 10-Q for the quarters
      ended June 30, 2019;
  ·
  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;
  ·
  Our proxy statement dated June 7, 2019; and
  ·
  The description of the common stock contained in Form 8-A, including any amendments or reports filed for the purpose of updating such description.
  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.
  Exhibit Number
  Description
  4.1
  Amended and Restated 2018 Stock Incentive Plan, incorporated herein by reference to Appendix B to our
  Definitive Proxy Statement on Schedule 14A, filed with the SEC on June 7, 2019
  5.1
  Opinion of Sichenzia Ross Ference LLP
  23.1
  Consent of Marcum LLP
  23.2
  Consent of BDO
  23.3
  Consent of Sichenzia Ross Ference LLP (included in Exhibit 5.1)
  24.1
  Powers of Attorney (included on signature page)
  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.
  DPW Holdings, Inc.
  By:
  /s/ Milton C. Ault, III
  Milton C. Ault, III,
  Chief Executive Officer (Principal Executive Officer)
  By:
  /s/ William B. Horne
  William B. Horne
  Chief Financial Officer (Principal Financial Officer)
  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
  Title
  Date
  By:
  /s/ Milton Ault, III
  Milton Ault, III
  Chairman and Chief Executive Officer (Principal
  Executive Officer)
  September 9, 2019
  By:
  /s/ William Horne
  William Horne
  Chief Financial Officer and Director (Principal
  Accounting Officer)
  September 9, 2019
  By:
  /s/ Amos Kohn
  Amos Kohn
  Director
  September 9, 2019
  By:
  /s/ Robert O. Smith
  Robert O. Smith
  Director
  September 9, 2019
  By:
  /s/ Mordechai Rosenberg
  Mordechai Rosenberg
  Director
  September 9, 2019
  By:
  /s/ Jeffrey Bentz
  Jeffrey Bentz
  Director
  September 9, 2019