LAS VEGAS, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data,” or the “Company”), today announced that it plans to issue a special one-time dividend of a newly designated 10% Series E Cumulative Redeemable Perpetual Preferred Stock (the “Series E Preferred Stock”) to all common stockholders and holders of the Series C Convertible Preferred on an as-converted basis. The Series E Preferred Stock is expected to have a $25 stated value per share and pay a monthly cash dividend at a 10% annualized rate. Any such special dividend will be subject to various regulatory requirements and approvals, including but not limited to board approval, NYSE American approval, compliance with applicable law and regulations as well as market conditions, among other matters. There can be no assurance that the Company will be able to obtain the necessary approvals. The Company will provide further information, including any record and dividend dates, once the Company receives the required board and regulatory approvals to issue the special dividend.
Hyperscale Data Executive Chairman, Milton “Todd” Ault III, stated, “For the past few years, the Company has explored opportunities to issue a Bitcoin dividend. We have come to the conclusion that, due to a number of circumstances, we are unable to issue a Bitcoin dividend. However, we still want to reward stockholders for their loyalty and commitment to the Company. I am excited that this dividend would represent approximately 16% of the face value of the Bitcoin we have mined since early 2021.”
Hyperscale Data CEO, William Horne, stated, “As we continue the transition of our data center operations from what has primarily been Bitcoin mining centric operations to colocation and hosting services for the emerging artificial intelligence and high-performance computing sectors, it was important to follow through with the commitment we made to our shareholders. Although the form of the dividend has changed from what we had originally desired, the economic substance remains the same. As such, we are thrilled to reward stockholders with a substantial special dividend that demonstrates our confidence in the future of the Company and its direction within the data center space.”
The Company will continue to update stockholders in the coming weeks with additional details about the special dividend as developments so warrant.
For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors, and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at https://hyperscaledata.com/ or available at www.sec.gov.
About Hyperscale Data, Inc.
Hyperscale Data is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Hyperscale Data owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides mission-critical products that support a diverse range of industries, including a social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma, hotel operations and textiles. In addition, Hyperscale Data is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; Hyperscale Data, Inc.
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,” 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 the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.hyperscaledata.com.
Hyperscale Data Investor Contact:
IR@hyperscaledata.com or 1-888-753-2235
