Hyperscale Data, Inc. (GPUS) announced it has amended its At-the-Market (ATM) Issuance Sales Agreement to reduce the aggregate amount of Class A common stock that may be sold from $300 million to $100 million. The company cited disciplined capital management and a belief that its equity is undervalued as reasons for limiting potential shareholder dilution. To date, approximately $49.8 million has been raised under the program.
Key Details
- Program Reduction: The total size of the ATM offering was decreased from $300 million to $100 million, a reduction of $200 million.
- Capital Raised: As of the filing date, the company has sold 121,827,841 shares for aggregate gross proceeds of approximately $49.8 million.
- Strategic Rationale: The CEO stated the change aims to limit equity dilution and reflects the company's focus on prudent capital deployment, noting plans to use debt financing of $100 million to $150 million for its Michigan AI data center buildout.