Hyperscale Data Announces Tokenized Preferred Stock Offering for Michigan AI Campus Expansion
Hyperscale Data, Inc., an artificial intelligence data center company listed on the NYSE American under GPUS, announced plans to tokenize up to $33.5 million in Series D Cumulative Redeemable Perpetual Preferred Stock through blockchain-based real-world asset (RWA) platforms. The offering aims to expand access for eligible investors and provide additional financing for its Michigan AI data center campus development. The proposed tokenization initiative would preserve the economic and legal rights of the existing preferred stock, which has a 13% annual dividend rate and has paid dividends consistently since June 2022. The company emphasized that this offering will not result in new common shares being issued due to limited conversion provisions for the Series D Preferred Stock. The financing is intended to support infrastructure improvements such as power distribution, cooling systems, utility upgrades, and customer deployment at its Michigan campus. CEO William B. Horne highlighted the importance of securing capital while balancing costs, liquidity needs, and shareholder interests.
Tickers: $GPUS
Topics: AI_infrastructure blockchain data_centers preferred_stock