Hyperscale Data, Inc. and its subsidiaries have entered into an eighth amendment to their existing Loan and Guaranty Agreement. The amendment facilitates an additional $21 million loan to Ault & Company, Inc., an affiliate, for which Hyperscale and its subsidiaries now act as guarantors. The agreement also extends the maturity date for all loans under the facility.
Key Details
- Additional Financing: Ault & Company, Inc. borrowed an additional $21 million through the issuance of secured promissory notes totaling $22,580,645 to the lenders.
- Maturity Extension: The maturity date for all loans under the agreement has been extended to December 14, 2027.
- Use of Proceeds: The proceeds are intended to fund a loan from Ault & Co. to Rockwell One Holdings, LLC, which operates a manufacturing facility for Remington-branded firearms in LaGrange, Georgia.
- Company Guarantee: Hyperscale Data and its wholly-owned subsidiaries have agreed to act as guarantors for the repayment of the new notes, creating a direct financial obligation for the company.