Hyperscale Data, Inc. GPUS experienced a rise in its shares during the premarket session on Tuesday following the announcement that Ault & Company, Inc. has increased its controlling stake in Hyperscale Data.
As of January 3, Ault & Company owns 91.7% of Hyperscale Data’s Class A common stock, totaling 13,900,765 shares.
This includes shares acquired through the conversion of Class B common stock, Series C and Series G convertible preferred stocks and warrants. The increased ownership also includes Class B Common stock received as a dividend to stockholders and additional purchases of preferred shares.
“Increasing our majority stake in Hyperscale Data aligns with our strategic vision to expand our footprint in the data technology sector,” said Milton C. Ault III, CEO of Ault & Company.
The acquisition emphasizes Ault & Company’s commitment to growing its portfolio with high-potential technology-driven enterprises.
Hyperscale Data is set to expand its service offerings under Ault’s guidance, delivering enhanced data solutions to businesses, marking a significant step forward in the data infrastructure space.
On Monday, the company’s unit, Alliance Cloud Services, signed a three-year agreement with a Silicon Valley-based cloud services provider for space, power and connectivity within Alliance Cloud’s Michigan Data Center.
The implementation includes an initial seven server cabinets with capability to add an additional five server cabinets. The server cabinets will start out using approximately 40 kilowatts per cabinet with cabinet level cooling capable of handling twice that density.
According to Benzinga Pro, GPUS stock has lost over 91% in the past year.
Price Action: GPUS shares are trading higher by 6.27% to $6.100 premarket at last check Tuesday.
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