Hyperscale Data, Inc. (GPUS): debt financing — Ault Alliance closes $41.5M affiliate financing, repays $37.9M in debt, issues convertible preferred and warrants

Hyperscale Data, Inc.

Closed $41.5M financing with Ault & Company (affiliate) issuing 41,500 Series C convertible preferred shares and warrants for 307M common shares.
Used proceeds to repay $20.4M to JGB Lenders and $17.5M senior secured convertible note owed to Ault & Company.
Conversion price of preferred $0.2098 (238% of $0.088 close); warrant exercise price $0.1353 (154% of close).
Company and subsidiaries guaranteed $38.9M in secured promissory notes issued by Ault & Company to third-party lenders.
Issuance of common upon conversion/exercise subject to NYSE American and stockholder approval.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

Hyperscale Data, Inc. incurred term loan of $38,918,919 aggregate principal amount of secured promissory notes with JGB Capital, LP, JGB Partners, LP, JGB (Cayman) Buckeye Ltd. at not specified maturing not specified.

Instrument: term loan
Principal: $38,918,919 aggregate principal amount of secured promissory notes
Counterparty: JGB Capital, LP, JGB Partners, LP, JGB (Cayman) Buckeye Ltd.
Rate: not specified
Maturity: not specified
Event: incurrence

Exact text from the filing

On the Closing Date, the Company, along with its wholly owned subsidiaries Sentinum, Inc. (“ Sentinum ”), Third Avenue Apartments LLC (“ Third Avenue ”), Alliance Cloud Services, LLC (“ Alliance Cloud ”), BNI Montana, LLC (“ BNI Montana ”), Ault Lending, LLC (“ Ault Lending ”), Ault Aviation, LLC (“ Ault Aviation ”) and Ault Global Real Estate Equities, Inc. (“ AGREE ” and collectively with the Company, Sentinum, Third Avenue, Alliance Cloud, BNI Montana, Ault Lending and Ault Aviation, the “ Guarantors ”) entered into a Loan and Guaranty Agreement (the “ Loan Agreement ”) with the Lenders, pursuant to which the Purchaser borrowed $36 million and issued secured promissory notes to the Lenders in the aggregate amount of $38,918,919 (collectively, the “ Notes ”; and the transaction, the “ Loan ”).

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10 debt financings filed in the last 30 days. Browse all debt financings →

Hyperscale Data, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-23-016501

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