secwatch.observer — SEC 8-K summary
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Issuer:     Hyperscale Data, Inc. (GPUS)
CIK:        0000896493
Form:       8-K
Filed at:   2023-09-28T23:59:59+00:00
Accession:  0001214659-23-012709
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ault Alliance exchanges $2.2M term note for convertible note; potential $3.3M add-on
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- Exchanged $2.2M term note (issued Sept 8 for $2M) for new convertible note with no interest, maturing Sept 28, 2024.
- Conversion price is 90% of lowest VWAP over prior 5 trading days; conversion requires NYSE American approval.
- Company can redeem at 115% of principal; conversion limited to 19.99% of outstanding unless stockholder approval obtained.
- Walleye Opportunities Master Fund Ltd. may demand up to $3.3M additional notes at 10% OID within 3 months after note is retired.
- Closing occurred September 28, 2023; proceeds used to replace outstanding term note.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/896493/000121465923012709/0001214659-23-012709-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/896493/000121465923012709/o9272368k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-23-012709

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