Hyperscale Data cuts ATM offering to $100M from $300M after selling 121.8M shares at ~$0.41

Hyperscale Data, Inc.

Company amended its June 18, 2026 ATM sales agreement with Spartan Capital Securities, reducing the aggregate Class A common stock offering from $300,000,000 to $100,000,000.
Hyperscale Data has sold 121,827,841 shares under the ATM for gross proceeds of ~$49.8 million, an average of roughly $0.41 per share.
CEO Will Horne: 'we do not believe the additional $200 million of ATM capacity is currently necessary'; says equity is 'significantly undervalued' and the cut limits dilution.
Michigan AI data center is being built to initially support 20 megawatts of critical compute capacity for a neocloud customer, with buildout costs to be augmented by project debt.
Preliminary estimates indicate the Michigan Facility will support project debt financing of between $100 million and $150 million.

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