---
schema_version: "secwatch.filing_event.v1"
accession: "0001214659-23-013465"
form_type: "8-K"
ticker: "GPUS"
cik: "0000896493"
company_name: "Hyperscale Data, Inc."
filed_at: "2023-10-16T23:59:59+00:00"
generated_at: "2026-06-09T23:46:02.782509+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Ault Alliance restructures $17.5M liabilities via convertible note and warrants to affiliate Ault & Company

## Summary
- Issued $17.5M senior secured convertible note to A&C, 10% interest, due Oct 2028, convertible at floor $0.10 or 105% of prior close.
- Warrants to purchase 47.7M shares at $0.1837, exercisable for 5 years after 6-month lock-up.
- Purchase price paid by canceling $4.6M loans, assuming $11.6M secured notes, retiring $1.3M Series B preferred stock.
- Conversion/exercise limited to 19.99% of outstanding shares unless stockholder approval obtained; subject to NYSE American approval.
- Milton Todd Ault, III states the restructuring reflects A&C's commitment to help AAI meet financial commitments.

## SEC filing metadata
- accession: 0001214659-23-013465
- form_type: 8-K
- ticker: GPUS
- cik: 0000896493
- company_name: Hyperscale Data, Inc.
- filed_at: 2023-10-16T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/896493/000121465923013465/0001214659-23-013465-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/896493/000121465923013465/e10162338k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001214659-23-013465
- JSON: https://secwatch.observer/filing/0001214659-23-013465.json
- Plain text: https://secwatch.observer/filing/0001214659-23-013465.txt

## Key facts
- Debt Financings
  Hyperscale Data, Inc. incurred senior notes of $17,519,832 with Ault & Company, Inc. at 10% per annum maturing October 12, 2028.
  - Instrument: senior notes
  - Principal: $17,519,832
  - Counterparty: Ault & Company, Inc.
  - Rate: 10% per annum
  - Maturity: October 12, 2028
  - Event: incurrence
  source text: On October 13, 2023 (the “ Closing Date ”), Ault Alliance, Inc., a Delaware corporation (the “ Company ”) entered into a Note Purchase Agreement (the “ Agreement ”) with Ault & Company, Inc., a Delaware corporation (the “ Purchaser ”), pursuant to which the Company sold to the Purchaser (i) a senior secured convertible promissory note in the principal face amount of $17,519,832 (the “ Note ”) and warrants (the “ Warrants ”) to purchase shares of the Company’s common stock, par value $0.001 per share (the “ Common Stock ”) for a total purchase price of up to $17,519,832 (the “ Transaction ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/896493/000121465923013465/0001214659-23-013465-index.htm
- Material Agreements
  Hyperscale Data, Inc. entered into Note Purchase Agreement with Ault & Company, Inc. valued at $17,519,832 (effective 2023-10-13).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Ault & Company, Inc.
  - Value: $17,519,832
  - Effective: 2023-10-13
  source text: pursuant to which the Company sold to the Purchaser (i) a senior secured convertible promissory note in the principal face amount of $17,519,832
  evidence_url: https://www.sec.gov/Archives/edgar/data/896493/000121465923013465/0001214659-23-013465-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.