Hyperscale Data Plans $33.5 Million Tokenized Preferred Stock Offering

Hyperscale Data, Inc. plans to tokenize up to 1,340,947 shares of its Series D preferred stock in a proposed offering worth as much as $33.5 million, the company said in a press release. The estimate assumes an offering price of $25 per share.

Hyperscale Data plans to use the net proceeds mainly for development, construction and expansion at its Michigan AI data center campus. Spending would cover power distribution, cooling systems, utility upgrades and infrastructure for customer deployments, with some funds potentially used for working capital.

The tokens are expected to represent interests in the underlying preferred shares while preserving their economic and legal rights. The shares carry a 13% annual cumulative dividend based on a $25 liquidation preference, although dividends are payable only when declared by the board. Hyperscale Data has not finalized an exchange, trading venue or international listing arrangement, and said there is no assurance that the offering will be completed or that a secondary market will develop.