Hyperscale Data (GPUS) plans to issue a special one-time dividend of 1M shares of a newly designated Series F Exchangeable Preferred Stock to all common stockholders and holders of the Series C Convertible Preferred Stock on an as-converted basis. The record date for the Distribution has been set for December 13. The company has set a payment date of December 23, subject to adjustment. The number of shares of Series F Preferred Stock issuable is approximately 0.139 for each share of Eligible Capital Stock. There will never be a public trading market for the Series F Preferred Stock. The Series F Preferred Stock has a $1.00 liquidation preference and will not pay a dividend. Each share of Series F Preferred Stock will be exchangeable, at the option of its holder, for 10 shares of Class A Common Stock of Ault Capital Group, a wholly owned subsidiary, and 5 shares of Class B Common Stock of ACG.
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Read More on GPUS:
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