secwatch.observer — SEC 8-K summary
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Issuer:     Hyperscale Data, Inc. (GPUS)
CIK:        0000896493
Form:       8-K
Filed at:   2025-04-16T23:59:59+00:00
Accession:  0001214659-25-005956
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hyperscale Data issues $5M convertible notes at 20% OID; maturity Sept 2025
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/896493/000121465925005956/0001214659-25-005956-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/896493/000121465925005956/p4152538k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-25-005956

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer