secwatch.observer — SEC 8-K summary
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Issuer:     Hyperscale Data, Inc. (GPUS)
CIK:        0000896493
Form:       8-K
Filed at:   2023-03-30T23:59:59+00:00
Accession:  0001214659-23-004507
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ault Alliance issues 100,000 preferred shares to convert $8.4M notes; conversion at 85% discount with $0.10 floor
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- Issued 83,000 Series E, 1,000 Series F, and 16,000 Series G preferred shares at $100 stated value each.
- Series E and F purchase price paid by canceling $8.4M secured promissory notes; Series G for accrued interest.
- Each preferred share convertible into common at 85% of prior day's closing price, floor $0.10, after stockholder approval of reverse split.
- Investors get option to purchase $4.95M convertible note for $4.2M within 90 days after first conversion.
- Company to call special meeting for reverse split amendment; Series F shares get 100,000 votes per share on the proposal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/896493/000121465923004507/0001214659-23-004507-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/896493/000121465923004507/r3302318k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-23-004507

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