$GPUSOct 1, 2026, 7:29 AM ETAI processedSCHEDULE 13D/A
Ault group reports ~64% beneficial ownership of Hyperscale Data; holds convertibles that can convert into hundreds of millions of Class A shares
AI Summary
N Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 21 ) Hyperscale Data, Inc. filed SEC Form SCHEDULE 13D/A. Ault & Company and affiliated reporting persons disclose beneficial ownership equal to ~63.9% of Hyperscale Data's Class A shares (Mr. Ault ~64.1% including optioned shares), driven largely by large convertible preferred holdings that the filing states are currently convertible into hundreds of millions of Class A shares. The filing also details a Stock Purchase Agreement under which Ault & Company agreed to buy 10,000,000 Class A and 389,404 Class B shares at $0.50 per share financed by a $5,194,702 promissory note (9% interest, matures September 30, 2028).
Positives
- Ault & Company beneficially owns 362,830,838 Class A shares (63.9% on a conversion basis); Mr. Ault may be deemed to beneficially own 364,083,258 Class A shares (64.1%).
- Ault & Company entered a SPA to acquire 10,000,000 Class A + 389,404 Class B shares at $0.50 per share, financed by a $5,194,702 promissory note (9% interest, maturity 9/30/2028).
- Ault & Company purchased convertible preferred/warrants (Series C for $50,000,000; Series G for $960,000; Series H for $4,000,000) that expand its economic stake and conversion rights.
Negatives
- Series C preferred is currently convertible into 303,030,303 Class A shares (filing used a $0.165 conversion price for calculations), which would be highly dilutive versus the ~218.9M reported Class A shares outstanding.
- The SPA purchase is financed by a promissory note that accrues 9% interest and may be accelerated on an event of default.
- Ownership concentration: the reporting group controls a large majority of Class A economic interest, reducing free float and consolidating control.