secwatch.observer — SEC 8-K summary
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Issuer:     Hyperscale Data, Inc. (GPUS)
CIK:        0000896493
Form:       8-K
Filed at:   2025-12-02T23:59:59+00:00
Accession:  0001214659-25-017512
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/896493/000121465925017512/0001214659-25-017512-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/896493/000121465925017512/o1222508k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-25-017512

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