secwatch.observer — SEC 8-K summary
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Issuer:     Hyperscale Data, Inc. (GPUS)
CIK:        0000896493
Form:       8-K
Filed at:   2023-10-16T23:59:59+00:00
Accession:  0001214659-23-013465
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/896493/000121465923013465/0001214659-23-013465-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/896493/000121465923013465/e10162338k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-23-013465

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