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Given Almost $75 Million in Executed Preferred Stock Purchase Agreements, Hyperscale Data Does Not Currently Intend to Raise Additional Equity

LAS VEGAS, June 23, 2025 (GLOBE NEWSWIRE) -- Hyperscale Data, Inc. (NYSE:GPUS), a diversified holding company ("Hyperscale Data" or the "Company"), today announced that it does not currently intend to pursue additional equity offerings, given that it has entered into existing financing agreements whereby it expects to raise up to an additional $68 million in preferred investments. These agreements, if completed in their entirety, would significantly bolster the Company's capital position.

To date, Ault & Company, Inc., a private holding company controlled by the Company's Founder and Executive Chairman, Milton "Todd" Ault III, has invested almost $51 million in Hyperscale Data through multiple tranches of preferred stock, and has agreed to invest up to an additional $24 million pursuant to the December 2024 securities purchase agreement providing for the purchase of up to $25 million shares of Series G convertible preferred stock and associated warrants.

Additionally, the Company recently entered into a separate securities purchase agreement with an institutional investor to sell up to $50 million of Series B convertible preferred stock (the "Series B Preferred"). The agreement provides for multiple tranche closings, offering the potential of ongoing access to capital aligned with the Company's operational progress. To date, $5.7 million of Series B Preferred has been purchased under this agreement.

"With up to an additional $68 million in preferred equity commitments, we do not anticipate the need to raise additional equity in the next six months," said Will Horne, CEO of Hyperscale Data. "This funding supports our strategy to expand the Michigan data center and drive long-term value creation as we evolve into a pure-play artificial intelligence ("AI") and digital infrastructure platform."

In February 2025, the Company announced that its indirect, wholly owned subsidiary Alliance Cloud Services, LLC ("ACS") had reached an agreement in principle with its primary local utility to expand the Michigan facility's available power from approximately 30 megawatts ("MW") to 300 MW. The completion of this power upgrade is anticipated to take 44 months from execution of a formal letter of authorization between ACS and the utility, which is currently being negotiated.   In addition, the Company also announced that ACS has reached an agreement in principle with the local natural gas utility to provide an additional 40 MW. The project is expected to be completed within 18 months of the execution of definitive agreements. ...