Hyperscale Data Ends ATM Program, Launches $5M Tender Offer at $0.21
GPUS•Hyperscale Data has terminated its ATM share-sale program effective June 8 after issuing ~137.6 million shares for $24.7 million and launched a $5 million tender offer to repurchase Class A shares at $0.21 each. The company holds ~700 BTC worth $51 million and has combined liquid assets near $100 million, exceeding its $77 million market capitalization.
1. ATM Program Termination
The company is terminating its at-the-market share offering with Spartan Capital effective June 8 after selling approximately 137.6 million shares for gross proceeds of $24.7 million at an average price of $0.1793 per share. Combined with a prior $125 million program in November 2025, this has issued nearly 393 million shares and fueled significant dilution.
2. $5 Million Tender Offer
Hyperscale Data has launched a cash tender offer to repurchase up to $5 million of its Class A shares at $0.21 each, funded entirely from its existing cash balance. The offer aligns with management’s goal to counteract dilution and is set to expire on June 8, the same day the ATM program ends.
3. Asset Valuation vs Market Cap
The company currently holds around 700 BTC valued at over $51 million, and combined with cash and restricted cash, its liquid assets total nearly $100 million. With a market capitalization of about $77 million, shares trade below its reported liquid asset value, excluding its AI data center campus, robotics partnerships, and pending divestiture of ACG.
