---
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"
generated_at: "2026-05-24T01:20:45.240200+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Hyperscale Data issues $1.65M convertible note to Orchid Finance, 15% interest, maturity Sept 2025

## Summary
- 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).

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.03, 3.02, 1.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001214659-25-005191
- JSON: https://secwatch.observer/filing/0001214659-25-005191.json
- Plain text: https://secwatch.observer/filing/0001214659-25-005191.txt

## Key facts
- Debt Financings
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/896493/000121465925005191/0001214659-25-005191-index.htm

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