Ault Alliance increases Series C financing cap from $50M to $75M, extends closing to June 2024

Hyperscale Data, Inc.

Financing cap raised from $50M to $75M under amended Securities Purchase Agreement dated March 25, 2024.
As of March 25, 2024, $43.5M already purchased (43,500 Series C shares + 12.86M warrants).
Final closing deadline extended to June 30, 2024, with potential 90-day extension by purchaser Ault & Company.
Terms unchanged: 9.5% cumulative dividend, conversion price based on VWAP with $0.10 floor; warrants at $3.3825, 5-year term.
Purchaser is an affiliate (Ault & Company); stockholder approval required for issuances exceeding 19.99%.

item 7.01 item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Hyperscale Data, Inc. amended the Amendment valued at $75,000,000.00 (effective 2024-03-25).

Action: amendment
Agreement: equity purchase
Value: $75,000,000.00
Effective: 2024-03-25

Exact text from the filing

On March 25, 2024, the Company and the Purchaser entered into the Amendment, pursuant to which the total amount of the Financing was increased to $75,000,000.00

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Hyperscale Data, Inc. entered into Agreement valued at up to $50,000,000.00 (effective 2023-11-06).

Action: entry
Agreement: equity purchase
Value: up to $50,000,000.00
Effective: 2023-11-06

Exact text from the filing

On November 6, 2023 (the “ Execution Date ”), the Company entered into the Agreement with the Purchaser, pursuant to which the Company agreed to sell to the Purchaser up to 50,000 shares of Series C convertible preferred stock (the “ Series C Convertible Preferred Stock ”), and Series C Warrants to purchase shares of Common Stock, in one or more closings, for a total purchase price of up to $50,000,000.00

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Hyperscale Data, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-24-005173

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