Hyperscale Data, a leading data solutions provider trading under AMEX:GPUS, has recently made a groundbreaking announcement regarding its financial strategy. The company has entered into a Securities Purchase Agreement with Ault & Company, Inc., securing up to $25 million in financing. This strategic move is set to propel Hyperscale Data’s expansion and innovation efforts in the dynamic world of high-performance computing services.
The Financing Agreement Details
The agreement entails the issuance and sale of Series G Convertible Preferred Stock to Ault & Company. Each Preferred Share holds a value of $1,000.00 and is convertible into Common Stock at a predetermined price. Additionally, A&C will receive warrants to purchase approximately 4.25 million shares of Common Stock at an exercise price of $5.92 per share, subject to adjustment over five years.
Strategic Utilization of Proceeds
The proceeds from this financing endeavor are earmarked for expanding Hyperscale Data’s MI data center infrastructure to meet the escalating demands of high-performance computing services supporting Artificial Intelligence solutions. Moreover, the funds will be allocated towards repaying outstanding debts and bolstering general working capital.
A Clear Vote of Confidence
Milton “Todd” Ault III, Executive Chairman of Hyperscale Data and Chairman & CEO of A&C, expressed unwavering confidence in the company’s future prospects through this agreement with Ault & Company. The investment signifies a premium valuation over market prices and serves as a testament to their shared vision for market positioning and growth.
Forward-Looking Statements
This strategic move positions Hyperscale Data as an industry frontrunner in data solutions by enhancing its operational capabilities and financial stability through key partnerships like the one with Ault & Company.
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