Hyperscale Data, Inc. (GPUS): debt financing — Hyperscale Data issues $1.65M convertible note to Orchid Finance, 15% interest, maturity Sept 2025

Hyperscale Data, Inc.

Note face amount $1.65M, issued at 10% OID for a $1.5M advance; interest 15% (18% default).
Conversion price = greater of $0.40 floor or 75% of 5-day VWAP; convertible after NYSE approval.
Matures September 30, 2025; conversion capped at 19.99% of outstanding common without stockholder approval.
Issued to Orchid Finance LLC in a private placement under Section 4(a)(2).

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Hyperscale Data, Inc. incurred convertible notes of 1,650,000 with Orchid Finance LLC at 15% per annum, 18% per annum upon event of default maturing September 30, 2025.

Instrument: convertible notes
Principal: 1,650,000
Counterparty: Orchid Finance LLC
Rate: 15% per annum, 18% per annum upon event of default
Maturity: September 30, 2025
Event: incurrence

Exact text from the filing

ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT. On April 1, 2025 (the “ Closing Date ”), Hyperscale Data, Inc., a Delaware corporation (the “ Company ”) issued to Orchid Finance LLC, a Nevada limited liability company (the “ Investor ”), a convertible promissory note in the principal face amount of $1,650,000 (the “ Note ”) in consideration for an advance of $1,500,000 previously made by the Investor to the Company (the “ Transaction ”).

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Hyperscale Data, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-25-005191

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