Business Context and Reporting Period
Company: Hyperscale Data, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: October 21, 2024
Event Date: October 18, 2024
Context: The Company reported the execution of a purchase under an existing Securities Purchase Agreement with an affiliate, Ault & Company, Inc.
Key Financial Metrics
This filing reports a specific capital raise transaction rather than periodic financial performance metrics (e.g., revenue, net income, or operating cash flow). The filing text does not provide a clear value for general revenue, profit, margins, or total debt levels.
| Metric | Value |
|---|---|
| Transaction Date | October 18, 2024 |
| Shares Sold (Series C) | 450 shares |
| Warrants Issued | 133,038 shares |
| Purchase Price (Current Transaction) | $450,000 |
| Cumulative Purchase Price (Since Nov 2023) | $45.6 million |
| Cumulative Series C Shares Sold | 45,600 shares |
| Cumulative Warrant Shares | 13,481,154 shares |
| Total Agreement Capacity | Up to $75 million |
Material Changes
The primary material change is the increase in capital raised under the November 6, 2023, Securities Purchase Agreement. As of October 21, 2024, the aggregate purchase price under the agreement has reached $45.6 million, representing a significant portion of the $75 million total capacity available to the Purchaser.
Guidance, Outlook, and Risks
- Management Commentary: The filing confirms the Purchaser is an affiliate of the Company. Material terms of the Series C Convertible Preferred Stock and Warrants were previously disclosed in an 8-K filed on November 7, 2023.
- Regulatory Status: The securities were offered and sold in reliance upon the exemption from registration requirements under Section 4(a)(2) of the Securities Act of 1933.
- Outlook: The agreement allows for future closings up to the $75 million limit, though no specific future purchase schedule is detailed in this report.
Investor Verification Checklist
- Verify the specific conversion terms and strike price of the Series C Convertible Preferred Stock and Warrants in the November 7, 2023, Form 8-K.
- Confirm the total outstanding equity and dilution impact of the 13,481,154 warrant shares issued to date.
- Review the Company's most recent 10-Q or 10-K for current liquidity positions and total debt obligations, as this 8-K does not provide a balance sheet.
- Assess the relationship and potential conflicts of interest with the Purchaser, Ault & Company, Inc., given its status as an affiliate.