Hyperscale Data, Inc. (GPUS): M&A transaction — Ault Alliance completes sale of BitNile.com to Ecoark for $100M in preferred stock

Hyperscale Data, Inc.

Transaction closed March 6, 2023; Ecoark acquired BitNile.com and its 19.9% stake in Earnity.
Consideration: 8,637.5 Series B Preferred shares to Ault Alliance and 1,362.5 Series C to minority holders; combined stated value $100M.
Preferred stock convertible into Ecoark common at $0.25/share, subject to shareholder approval; 19.9% ownership cap until then.
Ault Alliance can appoint three Ecoark board members, and after shareholder approval, a majority of the board.
Ecoark's financial results expected to be consolidated into Ault Alliance's financial statements going forward.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

Hyperscale Data, Inc. completed a disposition involving Ecoark Holdings, Inc. for 8,637.5 shares of Series B Convertible Preferred Stock of Ecoark with a stated value of $10,000 per share and 1,362.5 shares of Series C Convertible Preferred S (closed 2023-03-06).

Action: disposition
Counterparty: Ecoark Holdings, Inc.
Consideration: 8,637.5 shares of Series B Convertible Preferred Stock of Ecoark with a stated value of $10,000 per share and 1,362.5 shares of Series C Convertible Preferred S
Closing: 2023-03-06

Exact text from the filing

(the “ Transaction ”). On March 6, 2023, the Transaction closed and Ecoark acquired BitNile.com and its ownership in Earnity. As consideration for the acquisition, Ecoark issued 8,637.5 shares of newly designated Series B Convertible Preferred Stock of Ecoark to the Company (the “ Series B Preferred ”) and 1,362.5 shares of newly designated Series C Convertible

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Hyperscale Data, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-23-003614

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