---
schema_version: "secwatch.filing_event.v1"
accession: "0001214659-25-017512"
form_type: "8-K"
ticker: "GPUS"
cik: "0000896493"
company_name: "Hyperscale Data, Inc."
filed_at: "2025-12-02T23:59:59+00:00"
generated_at: "2026-05-16T15:49:08.595937+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Hyperscale Data issues $12.768M convertible notes at 12.5% with JGB Capital

## Summary
- Notes mature Nov 30, 2027; interest 12.5% payable monthly; includes $768k original issue discount.
- Conversion price is lower of $0.3235 or 85% of 3-day VWAP, with a $0.30 floor price.
- Company must deposit $15.96M in Bitcoin as collateral; proceeds initially held in segregated account.
- Second mortgage on Michigan property granted to secure obligations; prior loan agreement amended.
- Exchange approval required for conversion shares; registration rights granted for resale.

## SEC filing metadata
- accession: 0001214659-25-017512
- form_type: 8-K
- ticker: GPUS
- cik: 0000896493
- company_name: Hyperscale Data, Inc.
- filed_at: 2025-12-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/896493/000121465925017512/0001214659-25-017512-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/896493/000121465925017512/o1222508k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001214659-25-017512
- JSON: https://secwatch.observer/filing/0001214659-25-017512.json
- Plain text: https://secwatch.observer/filing/0001214659-25-017512.txt

## Key facts
- Debt Financings
  Hyperscale Data, Inc. incurred convertible notes of $12,768,000 with JGB Capital, LP, JGB Partners, LP and JGB Capital Offshore Ltd. at 12.5% per annum maturing November 30, 2027.
  - Instrument: convertible notes
  - Principal: $12,768,000
  - Counterparty: JGB Capital, LP, JGB Partners, LP and JGB Capital Offshore Ltd.
  - Rate: 12.5% per annum
  - Maturity: November 30, 2027
  - Event: incurrence
  source text: On December 2, 2025 (the " Closing Date "), Hyperscale Data, Inc., a Delaware corporation (the " Company "), along with its direct and indirect wholly owned subsidiaries Sentinum, Inc. (" Sentinum ") and Alliance Cloud Services, LLC (" ACS " and collectively with Sentinum, the " Guarantors "), entered into a Note Purchase Agreement (the " Agreement ") with JGB Capital, LP, JGB Partners, LP and JGB Capital Offshore Ltd. (collectively, the " Investors ") as well as JGB Collateral, LLC (the " Agent "). Pursuant to the Agreement, the Company borrowed $12,768,000 from the Investors and issued secured convertible promissory notes to the Investors in such aggregate amount, which includes an original issue discount of $768,000 (collectively, the " Convertible Notes ").
  evidence_url: https://www.sec.gov/Archives/edgar/data/896493/000121465925017512/0001214659-25-017512-index.htm

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