Hyperscale Data (GPUS) plans a tokenized Series D preferred stock offering with approximately $33.5 million in potential gross proceeds. The proposed offering covers up to 1,340,947 shares at an assumed $25.00 per share. Net proceeds would primarily fund development, construction and expansion of its Michigan AI data center campus.
The preferred stock carries a 13.00% annual cumulative dividend and has no stated maturity. Additional issuance would increase preferred dividend obligations and liquidation preferences, potentially reducing cash available to common shareholders. The company does not expect additional Class A common shares from issuance or ordinary conversion. Preliminary 2027 guidance projects revenue of approximately $300 million–$350 million and Adjusted EBITDA of approximately $60 million–$80 million. No token trading venue has been finalized; completion and secondary-market development remain uncertain.