GPUS.AMEXHyperscale Data, INC

8-K: Hyperscale Data Amends Series B Convertible Preferred Stock Terms

Sentiment:

Current Report (Form 8-K)

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Hyperscale Data, Inc. amends the conversion price of its Series B Convertible Preferred Stock following board approval and filing with the State of Delaware.

Capital raiseHyperscale Data previously agreed to sell up to 50,000 shares of Series B convertible preferred stock to SJC Lending, LLC for a total purchase price of up to $50,000,000.00.

Summary

  • Hyperscale Data, Inc. filed a Certificate of Amendment to the Certificate of Designation of Preferences, Rights and Limitations of the Series B Convertible Preferred Stock on April 23, 2025.
  • The amendment was approved by the board of directors on April 22, 2025.
  • The key change involves the definition of the 'Conversion Price'.
  • The Conversion Price is now defined as the greater of $0.40 per share (the Floor Price) or 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).

Sentiment

Score: 5

Explanation: The document is a factual report of an amendment to the terms of a preferred stock offering. The sentiment is neutral as it simply describes the changes.

Key Dates

DateDescription
March 31, 2025Execution Date of Securities Purchase Agreement with SJC Lending, LLC.
April 1, 2025Previous report on Form 8-K regarding the Securities Purchase Agreement.
April 22, 2025Board of directors approved the Certificate of Amendment.
April 23, 2025Certificate of Amendment filed with the Secretary of State of Delaware and became effective.
April 25, 2025Date of the current report (Form 8-K).

Keywords

Series B Convertible Preferred Stock, Conversion Price, Amendment, Hyperscale Data, Financing

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