Hyperscale Data cuts ATM equity sales capacity to $100 million from $300 million
GPUS•Hyperscale Data reduced the maximum size of its at-the-market equity sales agreement to $100 million from $300 million. It has sold 121,827,841 shares for about $49.8 million in gross proceeds, or about $0.41 per share.
1. ATM agreement reduced
The amended agreement covers sales of Hyperscale Data Class A common stock through Spartan Capital Securities as sales agent. CEO Will Horne cited current capital plans, dilution limits and his view that the stock is undervalued.
2. Data center financing
The company said its Michigan AI data center buildout could be augmented with project debt financing estimated at $100 million to $150 million.
