{"schema_version":"secwatch.filing_event.v1","accession":"0001214659-25-005191","form_type":"8-K","ticker":"GPUS","cik":"0000896493","company_name":"Hyperscale Data, Inc.","filed_at":"2025-04-01T23:59:59+00:00","discovered_at":"2026-05-14T18:02:51.716542+00:00","generated_at":"2026-05-24T01:20:45.240200+00:00","sec_items":["2.03","3.02","1.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Hyperscale Data issues $1.65M convertible note to Orchid Finance, 15% interest, maturity Sept 2025","bullets":["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)."],"urls":{"canonical":"https://secwatch.observer/filing/0001214659-25-005191","json":"https://secwatch.observer/filing/0001214659-25-005191.json","markdown":"https://secwatch.observer/filing/0001214659-25-005191.md","text":"https://secwatch.observer/filing/0001214659-25-005191.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/896493/000121465925005191/0001214659-25-005191-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/896493/000121465925005191/g412538k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-24T01:20:45.240200+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":"5b41f15b5584a885bc6a8401b12b68b015ac2a09","claim":"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.","evidence_excerpt":"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 ”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/896493/000121465925005191/0001214659-25-005191-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"1,650,000"},{"label":"Counterparty","value":"Orchid Finance LLC"},{"label":"Rate","value":"15% per annum, 18% per annum upon event of default"},{"label":"Maturity","value":"September 30, 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"}