---
schema_version: "secwatch.filing_event.v1"
accession: "0001214659-23-016501"
form_type: "8-K"
ticker: "GPUS"
cik: "0000896493"
company_name: "Hyperscale Data, Inc."
filed_at: "2023-12-15T23:59:59+00:00"
generated_at: "2026-06-07T12:25:38.124473+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Ault Alliance closes $41.5M affiliate financing, repays $37.9M in debt, issues convertible preferred and warrants

## Summary
- 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.

## SEC filing metadata
- accession: 0001214659-23-016501
- form_type: 8-K
- ticker: GPUS
- cik: 0000896493
- company_name: Hyperscale Data, Inc.
- filed_at: 2023-12-15T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/896493/000121465923016501/0001214659-23-016501-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/896493/000121465923016501/p12142308k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001214659-23-016501
- JSON: https://secwatch.observer/filing/0001214659-23-016501.json
- Plain text: https://secwatch.observer/filing/0001214659-23-016501.txt

## Key facts
- Debt Financings
  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
  source text: 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 ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/896493/000121465923016501/0001214659-23-016501-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.