Hyperscale Data, Inc. (GPUS): debt financing — Hyperscale Data issues $5M convertible notes at 20% OID; maturity Sept 2025

Hyperscale Data, Inc.

Notes have $5M face value, $4M gross proceeds ($460K in fees). 20% original issue discount.
Maturity September 30, 2025; 0% interest unless default then 20% per annum.
Conversion price = greater of $0.40 floor or 80% of lowest closing price over prior 5 trading days.
Conversion limited to 19.99% of outstanding shares until stockholder approval; proxy due within 15 days.
Milton C. Ault guarantees repayment; notes subordinate to JGB Collateral security interest.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Hyperscale Data, Inc. incurred convertible notes of $5 million with Target Capital 14 LLC, a Arizona limited liability company and Secure Net Capital LLC, a Nevada limited liability company at 20% per annum (upon Event of Default) maturing September 30, 2025.

Instrument: convertible notes
Principal: $5 million
Counterparty: Target Capital 14 LLC, a Arizona limited liability company and Secure Net Capital LLC, a Nevada limited liability company
Rate: 20% per annum (upon Event of Default)
Maturity: September 30, 2025
Event: incurrence

Exact text from the filing

issued to the Investors convertible promissory notes in the aggregate principal face amount of $5 million

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Hyperscale Data, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-25-005956

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