Ault Alliance creates Series C Convertible Preferred Stock with $1,000 stated value, 9.5% dividend

Hyperscale Data, Inc.

Conversion price is greater of $0.10 floor or lesser of $0.2098 (105% of pre-execution VWAP) and 105% of conversion-date VWAP.
Cumulative cash dividend at 9.5% per annum, payable quarterly; Company may pay in Common Stock for first two years at Conversion Price.
Voting rights on as-converted basis with a $0.123 Voting Floor Price; after stockholder approval, Purchaser earns proportional board representation.
Liquidation preference senior to Series A, B, and D Preferred Stock; holders receive stated value before common distributions.
Purchaser is affiliate Ault & Company, Inc. under Securities Purchase Agreement dated November 6, 2023; number of shares issued not disclosed.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Hyperscale Data, Inc.: Filed Certificate of Designations establishing Series C Convertible Preferred Stock (effective 2023-11-15).

Change: charter amendment
Effective: 2023-11-15

Exact text from the filing

Ault Alliance, Inc., a Delaware corporation (the “ Company ”) filed a Certificate of Designations of Preferences, Rights and Limitations of Series C Convertible Preferred Stock (the “ Series C Certificate of Designations ”) with the Secretary of State of the State of Delaware

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Hyperscale Data, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-23-015459

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