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Hyperscale Data, Inc. (NYSE American: GPUS), a key player in the electronic components sector currently trading at $3.80, has announced an amendment to its Series G Convertible Preferred Stock. According to InvestingPro analysis, the company operates with significant debt concerns and weak financial health, making this filing particularly noteworthy. This change was filed today with the Secretary of State of the State of Delaware and became effective immediately.
The amendment, approved by both the holder of the Series G Convertible Preferred Stock and the company’s board of directors on February 5, 2025, alters the definition of "Voting Floor Price" from $5.38 to $6.244. The initial Voting Floor Price was based on the closing sale price of the company’s Class A common stock on the day before the Securities Purchase Agreement was executed on December 21, 2024.
This action follows Hyperscale Data’s previous agreement with Ault & Company, Inc., where Hyperscale Data agreed to sell up to 25,000 shares of Series G convertible preferred stock and warrants to purchase shares of its Class A common stock for a total purchase price of up to $25 million.
The details of this corporate action are contained within the Certificate of Amendment to the Certificate of Designation of Preferences, Rights and Limitations of the Series G Convertible Preferred Stock, which is attached as an exhibit to the company’s Current Report on Form 8-K.
This filing also confirms Hyperscale Data’s change in fiscal year, aligning with the calendar year end of December 31. This information is based on a press release statement and reflects the company’s ongoing adjustments to its financial and governance structures.
Investors and market watchers may find further details of this amendment in the full text of the Certificate, which is publicly available through the SEC filing. With the stock down over 73% in the past year and showing high volatility, InvestingPro subscribers can access 12 additional key insights and detailed financial metrics to make more informed investment decisions. InvestingPro’s Fair Value analysis suggests the stock may be undervalued despite its challenges.
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