Las Vegas, October 12th / PRNewswire / -- Hyperscale Data, Inc. (NYSE American: GPUS) is an artificial intelligence (AI) data center company. The company announced today that it has revised its private placement (IPO) offering sales agreement, dated June 18, 2026 (hereinafter referred to as the "Agreement"), which was signed between the company and Spartan Capital Securities, LLC acting as sales agents (hereinafter referred to as "Agents"). Following the revision, the total amount that can be sold under this Agreement has been reduced from $300 million ($300,000,000) to $100 million ($100,000,000), including Class A common shares of the company (with a par value of $0.001 per share, hereinafter referred to as "common shares") that have been sold through this amendment to the Agreement.
The company stated that it has sold 121,827,841 ordinary shares in accordance with the ATM agreement, raising a total revenue of approximately $49.8 million, which is equivalent to about $0.41 per share.
Hyperscale Data CEO Will Horne stated: "Based on our current capital plan, we do not believe there is a need for an additional $200 million at this time. ATM Reducing the ATM scale reflects our commitment to disciplined capital management while maintaining the financial flexibility required to support our AI data center strategy. We believe the company's equity is significantly undervalued, and this reduction of $200 million will limit equity dilution and is in the best interest of shareholders. Our focus remains on prudently deploying capital and creating long-term value by building the AI data center in Michigan (hereinafter referred to as 'the facility'), which will initially support our neocloud customers with 20 megawatts of critical computing power. We plan to supplement the construction costs of this facility through debt financing, and preliminary estimates indicate that the existing construction scale will support project debt financing of $100 million to $150 million."
The company stated that in the future, it may assess capital market options under appropriate circumstances and in a manner that is in the best interests of the company and its shareholders.
This press release does not constitute an offer to sell or an invitation to purchase; in any state or other jurisdiction where such an offer, invitation, or sale would be illegal prior to the registration or qualification required by securities laws, no common shares shall be sold in that state or jurisdiction.
For more information about Hyperscale Data and its subsidiaries, the company recommends that shareholders, investors, and other relevant parties read their public documents and press releases. This information can be found in the investor relations section of hyperscaledata.com or on www.sec.gov.
Regarding Hyperscale Data, Inc.
Through Sentinum, Inc, and Hyperscale Data, they own and operate a data center that provides hosting and server management services for the emerging AI ecosystem as well as other industries. Another wholly-owned subsidiary of the company, Ault Capital Group, also known as "ACG", is a mixed-type private equity and operations firm that acquires, finances, builds, and actively manages businesses in areas such as financial services, digital assets, industrial services, hospitality, defense technology, and more.
Hyperscale Data Currently, it is anticipated that the divestiture of ACG (hereinafter referred to as the "divestiture transaction") will occur in 2027. Upon completion of the divestiture transaction, the company will become the owner and operator of a data center that supports high-performance computing services, while also holding digital assets, as well as its third wholly-owned subsidiaries: Omnipresent Robotics and LLC. Prior to the divestiture transaction, the company will continue to provide mission-critical products to various industries through ACG and its wholly-owned and controlled subsidiaries, as well as strategic investments, including AI software platforms, equipment leasing services, defense/aerospace, industrial, automotive, and hospitality businesses. In addition, ACG is actively engaged in private lending and structured financing activities through its licensed lending subsidiaries Ault Lending and LLC. Hyperscale Data is headquartered at Room 190, 11411 Las Vegas, Nevada.
On December 23, 2024, the company issued 1 million newly designated Series F exchangeable preferred shares (“Series F Preferred Stock”) to all common shareholders and holders of Series C preferred stock, on a converted basis. The spin-off transaction will be completed by voluntarily exchanging the Series F preferred shares for Class A and Class B common stocks of ACG (collectively referred to as “ACG Shares”). The company reminds shareholders that only those who agree to surrender their relevant shares in the exchange offer corresponding to the spin-off transaction and have not properly withdrawn their surrendered Series F preferred shares will be entitled to receive ACG shares and become shareholders of ACG after the completion of the spin-off transaction.
Forward-looking Statements
This press release contains “forward-looking statements” as defined by Section 27A of the Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934 (as amended). Such forward-looking statements typically include predictive statements regarding future events or circumstances and employ words such as “believes,” “plans,” “expects,” “projects,” “estimates,” “anticipates,” “intends,” “strategies,” “future,” “opportunities,” “possible,” “will,” “should,” “can,” “potential,” and similar phrases. Statements that are not historical facts are considered forward-looking statements. Forward-looking statements are based on current judgments and assumptions and involve risks and uncertainties.
Forward-looking statements are only valid as of the date they are made, and the company assumes no obligation to update any such statements in light of new information or future events. Due to various factors, actual results may differ significantly from those contained in any forward-looking statements. Additional information that may affect the company's business and financial results, including potential risk factors, is included in the documents submitted by the company to the U.S. Securities and Exchange Commission, including but not limited to the company's 10-K, 10-Q, and 8-K filings. All documents can be found at www.sec.gov and on the company's website at hyperscaledata.com.
