William B. Horne, CEO 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, for a total of $10. This transaction leaves him with no directly owned shares. The selling comes as the stock trades near its 52-week low of $4.78, having fallen more than 94% in the past year. InvestingPro’s analysis indicates that the stock is currently undervalued, although the company’s financial health score remains weak.
Las Vegas-based Hyperscale Data operates in the electronic components sector. As a key executive, Horne’s transactions are closely monitored by investors, providing insight into their sentiment and strategy regarding the company’s stock.
In other recent news, Hyperscale Data, Inc. has been actively expanding its capital through the sale of its Series C convertible preferred stock and associated warrants. The electronic components maker has raised $48.1 million in a transaction with its subsidiary, Ault & Company, Inc. Additionally, the company has managed substantial debt of $127.62 million through a forbearance agreement with regarding a convertible note of 5.39 million dollars.
In recent developments, Hyperscale Data has also announced a reverse stock split, consolidating every thirty-five shares into one. The company sold real estate in St. Petersburg, Florida, for $13.2 million, in line with its 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 approximately 30 megawatts to 300 megawatts, depending on regulatory approvals and funding.
Finally, Hyperscale Data shareholders approved the conversion of a 10% OID convertible note into common stock. These recent developments reflect Hyperscale Data’s ongoing financial strategy and its efforts to fund its operations and growth initiatives.
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