---
schema_version: "secwatch.filing_event.v1"
accession: "0001214659-25-002119"
form_type: "8-K"
ticker: "GPUS"
cik: "0000896493"
company_name: "Hyperscale Data, Inc."
filed_at: "2025-02-06T23:59:59+00:00"
generated_at: "2026-05-27T02:12:57.371144+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Hyperscale Data exchanges $1.93M term note for convertible note at $4/sh

## Summary
- Exchange of $1.93M term note for new convertible note; interest 15% (18% upon default), matures May 5, 2025.
- Conversion price fixed at $4.00/sh, a $0.05 premium to Feb 5 close; requires NYSE American approval.
- Original note of $1.705M issued Apr 2024 cancelled; accrued interest included in new principal.
- New note convertible into GPUS common stock; not registered, relies on Section 3(a)(9) exemption.

## SEC filing metadata
- accession: 0001214659-25-002119
- form_type: 8-K
- ticker: GPUS
- cik: 0000896493
- company_name: Hyperscale Data, Inc.
- filed_at: 2025-02-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/896493/000121465925002119/0001214659-25-002119-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/896493/000121465925002119/g262508k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001214659-25-002119
- JSON: https://secwatch.observer/filing/0001214659-25-002119.json
- Plain text: https://secwatch.observer/filing/0001214659-25-002119.txt

## Key facts
- Debt Financings
  Hyperscale Data, Inc. incurred convertible notes of $1,925,141.71 with Orchid Finance LLC at 15% per annum maturing May 5, 2025.
  - Instrument: convertible notes
  - Principal: $1,925,141.71
  - Counterparty: Orchid Finance LLC
  - Rate: 15% per annum
  - Maturity: May 5, 2025
  - Event: incurrence
  source text: On February 5, 2025 (the “ Closing Date ”), Hyperscale Data, Inc., a Delaware corporation (the “ Company ”) entered into an Exchange Agreement (the “ Agreement ”) with Orchid Finance LLC, a Nevada limited liability company (the “ Investor ”), pursuant to which the Company issued to the Investor a convertible promissory note in the principal face amount of $1,925,141.71 (the “ Note ”) in exchange for the cancellation of the outstanding term note issued by the Company to the Investor on April 29, 2024 (the “ Original Note ”), which Original Note, as of the Closing Date, had outstanding principal and accrued but unpaid interest of $1,925,141.71 (the “ Transaction ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/896493/000121465925002119/0001214659-25-002119-index.htm

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