William B. Horne, CEO of Hyperscale Data, Inc. (NASDAQ:GPUS), recently sold a small amount of the company's common stock. According to the latest SEC, Horne sold 2 shares at a price of $5.205 each, a total of $10. This transaction leaves him with no direct shares. The sale comes as the stock is trading near a 52-week low of $4.78, down more than 94% over the past year. InvestingPro Analysis shows that the stock is currently undervalued, although the company's health score remains weak.
Hyperscale Data, based in Las Vegas, operates in the electronic components sector. As a top executive, Horne's transactions are closely watched by investors, giving insight into his confidence and strategy regarding the company's stock.
In other recent news, Hyperscale Data, Inc. has actively increased its equity by selling its Series C preferred stock and related warrants. The electronics maker raised $48.1 million in a transaction with its subsidiary, Ault & Company, Inc. In addition, the company managed a large debt of 127.62 million dollars with a forbearance agreement of about 5.39 million dollars convertible.
In a recent development, Hyperscale Data also announced a reverse stock split, combining all thirty-five shares into one. The company sold residential property in St. Petersburg, Florida for $13.2 million, consistent with a focus on improving its data center operations. Specifically, plans are underway to increase the capacity of its artificial intelligence (AI) data center in Michigan from about 30 megawatts to 300 megawatts, subject to regulatory approval and funding.
Finally, Hyperscale Data shareholders 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 operations and growth initiatives.
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