Hyperscale Data plans tokenized offering of up to 1,340,947 Series D preferred shares for $33.5 million gross proceeds
GPUS•Hyperscale Data plans to tokenize up to 1,340,947 shares of its 13.00% Series D preferred stock, potentially raising about $33.5 million gross based on an assumed $25 per-share offering price. Proceeds would fund development and expansion of its Michigan AI data center campus, with some potentially used for working capital.
1. Offering plans
Hyperscale Data outlined plans to tokenize up to 1,340,947 shares of its 13.00% Series D preferred stock, with potential gross proceeds of about $33.5 million based on an assumed $25 per-share offering price. The company said proceeds would go toward developing and expanding its Michigan AI data center campus, with some funds potentially used for working capital.
2. Preferred stock terms
The perpetual Series D shares trade under GPUS PD and pay a 13.00% cumulative dividend on a $25 liquidation preference. Management flagged higher preferred dividend obligations and noted the preferred stock is generally non-convertible into Class A common stock.
