Hyperscale Data announces ‘at-the-market’ common stock offering

Hyperscale Data (GPUS) announced that it has established an “at-the-market” equity offering program under which it may sell, from time to time, shares of its common stock for aggregate gross proceeds of up to $50M. The company intends to use a majority of the net proceeds from this offering, if any, to acquire Bitcoin and to further develop its Michigan data facility. The company also intends to use a smaller amount of the proceeds for working capital and general corporate purposes, which may include the repayment, refinancing, redemption or repurchase of future indebtedness or capital stock. The shares of common stock will be offered through Spartan Capital Securities, which will act in its capacity as sales agent.