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Hyperscale data executive chairman Milton Ault buys shares worth $2,193

Published 24/12/2024, 00:48
Hyperscale data executive chairman Milton Ault buys shares worth $2,193
GPUS
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Milton C. Ault III, the Executive Chairman of Hyperscale Data, Inc. (NASDAQ:GPUS), recently acquired 400 shares of the company’s common stock. The purchase comes as the stock trades near its 52-week low of $4.98, having declined over 93% year-to-date. According to InvestingPro analysis, the company’s shares currently appear undervalued relative to their Fair Value. The shares were purchased at an average price of $5.48 per share, amounting to a total transaction value of $2,193. Following this transaction, Ault holds 7,949 shares indirectly through Ault & Company, Inc., where he serves as CEO. Additionally, he directly owns 432 shares of common stock and 116 shares of the 13% Series D Cumulative Redeemable Perpetual Preferred Stock.

In other recent news, Hyperscale Data, Inc., has been actively securing funding through the sale of Series C convertible preferred stock and corresponding warrants, raising a total of $48.1 million from its affiliate, Ault & Company, Inc. This transaction is part of the company’s broader efforts to finance its operations and growth initiatives. Furthermore, Hyperscale Data has recently undergone a reverse stock split, consolidating every thirty-five shares into one.

In addition to these financial maneuvers, the company has sold a real estate property in St. Petersburg, Florida, for $13.2 million. This sale is part of Hyperscale Data’s focus on enhancing its data center operations, particularly its artificial intelligence (AI) data center in Michigan. Plans are underway to increase the facility’s capacity from approximately 30 megawatts to 300 megawatts, contingent on regulatory approvals and financing.

Lastly, Hyperscale Data’s shareholders have approved the conversion of a 10% OID Convertible Promissory Note into common stock. These recent developments reflect Hyperscale Data’s ongoing activity in the electronic components sector and its strategic financial initiatives.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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