secwatch.observer — SEC 8-K summary
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Issuer:     Hyperscale Data, Inc. (GPUS)
CIK:        0000896493
Form:       8-K
Filed at:   2023-02-10T23:59:59+00:00
Accession:  0001214659-23-001960
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ault Alliance enters share exchange to acquire 92.4% of Ecoark via BitNile.com subsidiary
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- Ecoark to acquire BitNile.com from Ault Alliance and minority holders for $100M stated value convertible preferred stock.
- Ault Alliance to receive 8,637.5 shares of Series B Preferred; total preferred convertible into 400M Ecoark shares (92.4% fully diluted).
- Ault Alliance gets right to appoint three board members of Ecoark, future majority after shareholder approval.
- Conversion price set at $0.25 per share; dividends at 5% annually, increasing to 12% if unpaid.
- Closing conditions include fairness opinion and completion of due diligence by both parties.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/896493/000121465923001960/0001214659-23-001960-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/896493/000121465923001960/d2102368k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-23-001960

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer