William B. Horne, the Chief Executive Officer of Hyperscale Data, Inc. (NASDAQ:GPUS), recently sold a small amount of the company’s common stock. According to a recent SEC filing, Horne sold 2 shares at a price of $5.205 each, totaling $10. This transaction leaves him with no shares owned directly. The sale comes as the stock trades near its 52-week low of $4.78, having declined over 94% in the past year. InvestingPro analysis indicates the stock is currently undervalued, though the company’s financial health score remains weak.
Hyperscale Data, based in Las Vegas, operates in the electronic components sector. As a key executive, Horne’s transactions are closely monitored by investors, providing insights into his confidence and strategy regarding the company’s stock.
In other recent news, Hyperscale Data, Inc. has been actively expanding its equity through the sale of its Series C convertible preferred stock and associated warrants. The electronic components manufacturer has raised $48.1 million in a transaction with its affiliate, Ault & Company, Inc. Additionally, the company has managed a substantial debt of $127.62 million through a forbearance agreement regarding a $5.39 million convertible promissory note.
In recent developments, Hyperscale Data has also announced a reverse stock split, consolidating every thirty-five shares into one. The company has sold a real estate property in St. Petersburg, Florida for $13.2 million, aligning with its focus on enhancing its data center operations. Specifically, plans are underway to increase the capacity of its artificial intelligence (AI) data center in Michigan from approximately 30 megawatts to 300 megawatts, contingent on regulatory approvals and financing.
Lastly, Hyperscale Data’s shareholders have approved the conversion of a 10% OID Convertible Promissory Note into common stock. These recent developments reflect Hyperscale Data’s ongoing financial strategy and its efforts to finance its operations and growth initiatives.
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