secwatch.observer — SEC 8-K summary
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Issuer:     Hyperscale Data, Inc. (GPUS)
CIK:        0000896493
Form:       8-K
Filed at:   2023-11-21T23:59:59+00:00
Accession:  0001214659-23-015459
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/896493/000121465923015459/0001214659-23-015459-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/896493/000121465923015459/p11212308k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-23-015459

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