Milton C. Ault III, Executive Chairman of Hyperscale Data, Inc. (NASDAQ:GPUS), recently acquired additional shares of the company's stock in two separate transactions. According to a recent SEC filing, Ault purchased a total of 400 shares, with the transactions occurring on December 3 and December 4. The shares were bought at prices ranging from $5.50 to $5.8717 per share, amounting to a total investment of $2,274. The purchase comes as the stock has experienced significant volatility, with InvestingPro data showing a 94% decline over the past year. The company's market capitalization currently stands at $5.6 million.
These acquisitions were made indirectly through Ault & Company, Inc., where Ault serves as CEO and is considered to beneficially own the shares. Following these transactions, Ault's indirect holdings in Hyperscale Data increased to 6,349 shares. Additionally, Ault directly owns 432 shares of common stock and 116 shares of 13% Series D Cumulative Redeemable Perpetual Preferred Stock.
In other recent news, Hyperscale Data, Inc. has secured $46.98 million in funding through the sale of convertible preferred stock and associated warrants, as part of an ongoing securities purchase agreement with Ault & Company, Inc. The company has also announced a reverse stock split, consolidating every thirty-five shares into one. Hyperscale Data, Inc. has been involved in a series of private equity sales, including the issuance of Series C convertible preferred stock and corresponding warrants to Ault & Company, Inc.
The aggregate investment from these transactions has reached $46.53 million, with the potential to reach up to $75 million. In addition, Hyperscale Data has sold a real estate property in St. Petersburg, Florida for $13.2 million, depositing $11 million of the sales price into an account benefiting its senior secured lenders. The company is focusing on enhancing its data center operations, specifically its artificial intelligence (AI) data center in Michigan, with plans to increase the facility's capacity from approximately 30 megawatts to 300 megawatts.
Lastly, Hyperscale Data's shareholders have approved the conversion of a 10% OID Convertible Promissory Note into common stock. These are recent developments in Hyperscale Data's ongoing activity in the electronic components sector.
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