Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Hyperscale Data, Inc.: Amended the definition of 'Conversion Price' in the Certificate of Designation of Series B Convertible Preferred Stock to a formula based on a floor price and a variable percentage of VWAP with a maximum price cap (effective 2025-04-23).
- Change
- charter amendment
- Effective
- 2025-04-23
Exact text from the filing
the definition of “Conversion Price” was amended read as follows: “ Conversion Price ” means the greater of (i) $0.40 per share (the “ Floor Price ”), which Floor Price shall not be adjusted for stock dividends, stock splits, stock combinations and other similar transactions and (ii) 75% of the Corporation’s lowest VWAP on any Trading Day during the five Trading Days immediately prior to the date of conversion into shares of Common Stock, but not greater than $10.00 per share (the “ Maximum Price ”), which Maximum Price shall be adjusted for stock dividends, stock splits, stock combinations and other similar transactions.”
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