Ault Global Enters into Agreement with Hyperscale Data, Inc. for Series C Convertible Preferred Stock Purchase

On October 25, 2024, Hyperscale Data, Inc., a Delaware corporation, announced the sale of 100 shares of Series C Convertible Preferred Stock and warrants to Ault & Company, Inc., a Delaware corporation, for a purchase price of $100,000. This transaction, entered into pursuant to a Securities Purchase Agreement dated November 6, 2023, marks an ongoing investment initiative between the two entities.

As of the same date, the Purchaser has acquired a total of 45,700 shares of Series C Convertible Preferred Stock and Series C Warrants to procure an aggregate of 13,510,718 Warrant Shares, amounting to a total purchase of $45.7 million. The Agreement outlines that the Purchaser has the opportunity to acquire up to $75 million worth of Series C Convertible Preferred Stock and Series C Warrants in one or more closings.

It’s essential to note that the Purchaser, in this instance, is an affiliate of Hyperscale Data, Inc. The terms and conditions of the Agreement, the Series C Convertible Preferred Stock, and the Series C Warrants were previously disclosed in a Form 8-K filed with the Securities and Exchange Commission on November 7, 2023.

The unregistered sales of equity securities, as detailed in Item 1.01, were executed following an exemption from registration requirements under Section 4(a)(2) of the Securities Act of 1933. This action is further specified under Item 3.02 of the filing, indicating the sale of the Series C Convertible Preferred Stock and Series C Warrants under this exemption.

Included within this filing are financial exhibits pertinent to these transactions. Exhibit 101 contains the Inline XBRL-formatted cover page, and Exhibit 104 is the Cover Page Interactive Data File embedded within the Inline XBRL document.

Signed on behalf of Hyperscale Data, Inc., by President and General Counsel Henry Nisser, the report signifies the completion of this notable transaction on October 25, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ault Global’s 8K filing here.

Ault Global Company Profile

Ault Global Holdings, Inc engages in the design, development, manufacture, and sale of customized and flexible power system solutions for the medical, military, telecom, and industrial markets. It operates through the following segments: DPC, DPL, Enertec, Digital Farms, and I.AM. The DPC segment includes Microphase, Coolisys, Power-Plus, and DP Lending.