TSLA
Tesla
-- 228.190 NVDA
NVIDIA
-- 108.490 PLTR
Palantir
-- 79.090 AAPL
Apple
-- 221.010 AMD
Advanced Micro Devices
-- 96.610 
Update
$Hyperscale Data (GPUS.US)$ Press Release: Hyperscale Data Sells St. Petersburg Development Property for $13 Million
Dow Jones· 1 min ago
Hyperscale Data Sells St. Petersburg Development Property for $13 Million
$13 Million Represents Approximately $11.71 Per Share Based Upon Slightly More Than 1.1 Million Common Shares Outstanding
LAS VEGAS, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company ("Hyperscale Data," or the "Company"), today announced that its wholly owned indirect subsidiary, Third Avenue Apartments LLC, has completed the sale of its St. Petersburg development property (the "Property") for $13 million. This sale reflects the Company's ongoing commitment to reorganizing its holdings and becoming a pureplay data center business to support the growing demands of high-performance computing ("HPC") services powering Artificial Intelligence ("AI") solutions. Approximately $11 million of the funds received from the sale of the Property will be held in a segregated account bringing the balance of the segregated account to approximately $18.3 million. The segregated account was established in December 2023 because of the Company's guarantee obligations. The Company is currently in discussions with the principal lender to allow for a cash dividend for the amount of the proceeds held in the segregated account to our holders of common stock and Series C convertible preferred stock on an as-converted basis.
Hyperscale Data Executive Chairman, Milton "Todd" Ault III, stated, "As we previously told stockholders, this is a step in the right direction for the Company and its future as we focus our energy on our data center operations. We are encouraged with the progress of our discussions with the principal lender and anticipate that the proceeds from the sale will ultimately result in a cash dividend and, to a lesser extent, for working capital purposes. We remain excited for the community of St. Petersburg and are confident that new ownership will deliver a marquee development to the area."
Dow Jones· 1 min ago
Hyperscale Data Sells St. Petersburg Development Property for $13 Million
$13 Million Represents Approximately $11.71 Per Share Based Upon Slightly More Than 1.1 Million Common Shares Outstanding
LAS VEGAS, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company ("Hyperscale Data," or the "Company"), today announced that its wholly owned indirect subsidiary, Third Avenue Apartments LLC, has completed the sale of its St. Petersburg development property (the "Property") for $13 million. This sale reflects the Company's ongoing commitment to reorganizing its holdings and becoming a pureplay data center business to support the growing demands of high-performance computing ("HPC") services powering Artificial Intelligence ("AI") solutions. Approximately $11 million of the funds received from the sale of the Property will be held in a segregated account bringing the balance of the segregated account to approximately $18.3 million. The segregated account was established in December 2023 because of the Company's guarantee obligations. The Company is currently in discussions with the principal lender to allow for a cash dividend for the amount of the proceeds held in the segregated account to our holders of common stock and Series C convertible preferred stock on an as-converted basis.
Hyperscale Data Executive Chairman, Milton "Todd" Ault III, stated, "As we previously told stockholders, this is a step in the right direction for the Company and its future as we focus our energy on our data center operations. We are encouraged with the progress of our discussions with the principal lender and anticipate that the proceeds from the sale will ultimately result in a cash dividend and, to a lesser extent, for working capital purposes. We remain excited for the community of St. Petersburg and are confident that new ownership will deliver a marquee development to the area."
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment