Hyperscale Data, Inc. (GPUS): debt financing — Hyperscale Data issues $110K convertible promissory note to Jorico LLC

Hyperscale Data, Inc.

Principal face $110K, 10% OID, net proceeds $100K; interest at 15% (18% on default).
Note matures September 30, 2025; convertible into Class A common stock after NYSE approval.
Conversion price is greater of $0.45 floor or 75% of VWAP calculated per formulas.
Issuance exempt from registration under Section 4(a)(2) of the Securities Act.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.97

Hyperscale Data, Inc. incurred convertible notes of $110,000 with Jorico, LLC at 15% per annum (18% per annum upon an event of default) maturing September 30, 2025.

Instrument: convertible notes
Principal: $110,000
Counterparty: Jorico, LLC
Rate: 15% per annum (18% per annum upon an event of default)
Maturity: September 30, 2025
Event: incurrence

Exact text from the filing

On April 8, 2025 (the “ Closing Date ”), Hyperscale Data, Inc., a Delaware corporation (the “ Company ”) issued to Jorico, LLC, a California limited liability company (the “ Investor ”), a convertible promissory note in the principal face amount of $110,000 (the “ Note ”) in consideration for $100,000 paid by the Investor to the Company (the “ Transaction ”).

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Hyperscale Data, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-25-005662

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