Hyperscale Data, Inc. (GPUS): debt financing — Ault Alliance amends loan agreement, borrows additional $8.83M; total debt $24.33M

Hyperscale Data, Inc.

Borrowed additional $8.83M via amended notes; total principal $24.33M.
Interest 8.5% p.a., maturity May 7, 2024; monthly payments $750K rising to $1.13M.
New subsidiary BNI Montana joined as borrower; additional collateral including 19,389 Pro Antminers.
Restructuring fee $200K and legal fees $50K paid; Circle 8 Holdco pledged as collateral.
Borrowers may defer monthly payment with $165K fee, limited to 6 deferrals, non-consecutive.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

Hyperscale Data, Inc. incurred credit facility of $24,326,222 with JGB Capital, LP, JGB Partners, LP and JGB (Cayman) Buckeye Ltd. at 8.5% per annum maturing May 7, 2024.

Instrument: credit facility
Principal: $24,326,222
Counterparty: JGB Capital, LP, JGB Partners, LP and JGB (Cayman) Buckeye Ltd.
Rate: 8.5% per annum
Maturity: May 7, 2024
Event: incurrence

Exact text from the filing

Borrower, borrowed an additional $8,833,333 (the “ Additional Loan Amount ”) and issued amended and restated secured promissory notes to the Investors in the aggregate amount of $24,326,222 (collectively, the “ Amended Notes ”; and the transaction, the “ Additional Financing ”). The Amended Notes reflected the total amount outstanding under the Loan Agreement after

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Hyperscale Data, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-23-009826

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