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Milton C. Ault III, CEO of Hyperscale Data, Inc. (NASDAQ:GPUS), recently purchased additional shares of the company. According to a recent SEC filing, Ault bought 200 shares of common stock at $7,255 per share, for a total of about $1,451. The purchase comes as the stock is trading at $6.87, down more than 90% year-to-date, with a current market cap of just $7.7 million.
After this transaction, Ault’s indirect ownership, through Ault & Company, Inc., increased to 7,049 shares. In addition, Ault directly holds 432 shares of common stock and 116 shares of 13% Series D Cumulative Redeemable Perpetual Preferred Stock. Ault’s role as both a director and officer, as well as a significant shareholder, underscores his continued involvement and investment in Hyperscale Data.
In other recent news, Hyperscale Data, Inc. has made significant progress in its financial strategy. The company secured a significant investment of $47.6 million from its affiliate, Ault & Company, Inc. through the sale of series C preferred shares and corresponding warrants. In addition, Hyperscale Data raised $47.55 million through the sale of additional equity securities. This series of financial transactions is part of the company’s broader strategy to manage its capital structure and ensure liquidity.
The company also reached a release agreement with an institutional investor related to a $5.39 million convertible note, indicating a strategic approach to managing its total debt of $127.62 million. The promissory note bears interest at 18% per annum and matures on February 15, 2025.
Hyperscale Data also recently announced a reverse stock split, consolidating every thirty-five shares into one. The move is part of the company’s strategic financial maneuvers to strengthen its capital structure. Additionally, the company sold a property in St. Petersburg, Florida for $13.2 million.
In terms of operational development, Hyperscale Data is focusing on improving the operation of its data center, especially the artificial intelligence (AI) data center in Michigan. The company plans to increase the plant’s capacity from approximately 30 megawatts to 300 megawatts, pending regulatory approvals and financing. These are the latest developments in Hyperscale Data’s ongoing activities in the electronic components sector.
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