secwatch.observer — SEC 8-K summary
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Issuer:     Hyperscale Data, Inc. (GPUS)
CIK:        0000896493
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001214659-23-014653
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ault Alliance enters $50M financing agreement with affiliate via Series C convertible preferred and warrants
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- Up to $50M from affiliate Ault & Company via Series C convertible preferred shares, stated value $1,000 each.
- Conversion price: greater of $0.10 floor or lesser of $0.2098 or 105% of VWAP; full ratchet anti-dilution protection.
- Warrants: ~370M shares at $0.1353/exercise price, 5-year term, exercisable after 6 months.
- Preferred dividend: 9.5% annual on $1,000 stated value, payable quarterly; first 2 years may be paid in common stock.
- Proceeds: repay debt, expand Bitcoin mining, working capital; closing subject to stockholder and A&C financing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/896493/000121465923014653/0001214659-23-014653-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/896493/000121465923014653/e1172318k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-23-014653

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