secwatch.observer — SEC 8-K summary
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Issuer:     Hyperscale Data, Inc. (GPUS)
CIK:        0000896493
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001214659-23-006372
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ault Alliance enters $40M financing from affiliate via convertible preferred and warrants
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- Up to $40M from Ault & Company via 40,000 shares of Series C convertible preferred stock at $1,000 stated value each.
- Conversion price floored at $0.10, with full ratchet anti-dilution; warrants for up to 400M common shares at $0.10, 5-year term.
- Preferred shares pay 9.5% annual dividend; Company may pay in common stock for first two years.
- Proceeds to repay debt, expand Bitcoin mining facilities, and for working capital.
- Closing expected by May 31, 2023, subject to customary conditions and A&C obtaining sufficient financing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/896493/000121465923006372/0001214659-23-006372-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/896493/000121465923006372/aa512308k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-23-006372

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