Loan & DebtJun 11, 2026, 04:36 PM
Hyperscale Data Secures $15.96M Pre-Paid Advance
AI Summary
Hyperscale Data, Inc. has entered into a Pre-Paid Advance Agreement with YA II PN, Ltd. (Yorkville) for $15,958,000. The company received net proceeds of $15,000,520 after a 6% discount. The advance accrues 4% annual interest, convertible to 18% upon default, and can be offset by issuing company stock at a discount. The agreement includes provisions for monthly cash payments if certain conditions are met, with a maturity date set for 18 months from the closing.
Key Highlights
- Hyperscale Data secured a $15.96M pre-paid advance from Yorkville, receiving $15M net.
- The advance carries a 4% annual interest rate, increasing to 18% upon default.
- Yorkville can convert the advance into company stock at a discount to market price.
- The company paid $35,000 in structuring and due diligence fees.
- Repayment is due within 18 months, with potential for monthly cash payments under certain conditions.
Price Impact
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