Ault & Company, Inc. Announces an Increased Majority Stake in Hyperscale Data, Inc.
LAS VEGAS, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Ault & Company, Inc. ("Ault & Company"), today announced that it has increased its controlling stake in Hyperscale Data, Inc. ("Hyperscale Data"), a diversified holding company transitioning to becoming solely an owner and operator of data centers to support high performance computing services. Hyperscale Data trades publicly on the NYSE American under the symbol GPUS. This acquisition reinforces Ault & Company's commitment to investing in emerging technologies that shape the future of data infrastructure.
As of January 3, 2025, Ault & Company beneficially owned 13,900,765 shares of Hyperscale Data's class A common stock ("Class A Common"), which represented 91.7%, as calculated in accordance with Section 16 of the Securities Exchange Act of 1934, as amended. This included 8,249 shares of Class A Common, 4,234,561 shares of Class A Common issuable upon conversion of class B common stock ("Class B Common"), 9,140,771 shares issuable upon conversion of 50,000 shares of series C convertible preferred stock ("Series C Preferred"), 88,494 shares of Class A Common issuable upon conversion of 495 shares of series G convertible preferred stock ("Series G Preferred" and together with Series C Preferred, the "Preferred Shares") and 428,690 shares of Class A Common issuable upon exercise of outstanding warrants. The increased beneficial ownership included the receipt of Class B Common as a dividend to all stockholders of Hyperscale Data, as well as recent purchases of Preferred Shares through January 3, 2025.
"Increasing our majority stake in Hyperscale Data aligns with our strategic vision to expand our footprint in the data technology sector," said Milton C. Ault, III, Chief Executive Officer of Ault & Company. "We are excited to contribute to Hyperscale Data's growth and leverage our resources to enhance their capabilities."
The transaction highlights Ault & Company's active pursuit to enhance its portfolio with investments in high-potential technology-driven enterprises. Hyperscale Data is poised to broaden its service offerings under the strategic guidance of Ault & Company, focusing on delivering enhanced data solutions to businesses.
For further details on Ault & Company's ownership of Hyperscale Data, please reference the Schedule 13D/A Amendment No. 9, filed with the U.S. Securities and Exchange Commission on January 6, 2025 by Ault & Company and its affiliates.
The principal business of Ault & Company is investing in securities. Ault & Company, together with its affiliates (including, Milton C. Ault III, Hyperscale Data's Executive Chairman, William Horne, Hyperscale Data's Chief Executive Officer and Vice Chairman, Henry Nisser, Hyperscale Data's President, General Counsel and Director and Ken Cragun, Hyperscale Data's Chief Financial Officer).
This press release is for informational purposes only and shall not constitute an offer to buy or sell common stock or any other securities.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," "considering," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and Ault & Company undertakes no obligation to update any of them publicly in light of new information or future events other than as required by applicable law. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors.
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