{"schema_version":"secwatch.filing_event.v1","accession":"0001214659-25-004698","form_type":"8-K","ticker":"GPUS","cik":"0000896493","company_name":"Hyperscale Data, Inc.","filed_at":"2025-03-24T23:59:59+00:00","discovered_at":"2026-05-14T18:03:06.733108+00:00","generated_at":"2026-05-24T07:45:40.582883+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Hyperscale Data issues $4.9M convertible note to SJC Lending, consolidating debt","bullets":["Exchanged four existing notes totaling $4,909,410.96 for a single convertible promissory note with 15% interest, maturing Dec 31, 2025.","Conversion price equals the greater of $0.40 floor or 75% of 5-day VWAP, capped at $10/share; only adjustable for stock splits.","Conversion limited to 19.99% of outstanding shares until NYSE approval and stockholder approval; Company to file proxy within 30 days.","Note issued under Section 3(a)(9) exemption; SJC Lending, LLC (sole member Steve J. Caspi) is the investor.","Existing notes canceled; Company avoids immediate enforcement action by Investor during pendency of closing."],"urls":{"canonical":"https://secwatch.observer/filing/0001214659-25-004698","json":"https://secwatch.observer/filing/0001214659-25-004698.json","markdown":"https://secwatch.observer/filing/0001214659-25-004698.md","text":"https://secwatch.observer/filing/0001214659-25-004698.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/896493/000121465925004698/0001214659-25-004698-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/896493/000121465925004698/hd3212518k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-24T07:45:40.582883+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"a2d7eb88e62142ff3b2fa056969514b069395269","claim":"Hyperscale Data, Inc. incurred convertible notes of $4,909,410.96 with SJC Lending, LLC at 15% per annum maturing December 31, 2025.","evidence_excerpt":"On March 21, 2025 (the “ Closing Date ”), Hyperscale Data, Inc., a Delaware corporation (the “ Company ”) entered into an Exchange Agreement (the “ Agreement ”) with SJC Lending, LLC, a Delaware limited liability company (the “ Investor ”), pursuant to which the Company issued to the Investor a convertible promissory note in the principal face amount of $4,909,410.96","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/896493/000121465925004698/0001214659-25-004698-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$4,909,410.96"},{"label":"Counterparty","value":"SJC Lending, LLC"},{"label":"Rate","value":"15% per annum"},{"label":"Maturity","value":"December 31, 2025"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}