Hyperscale Data Secures Up to $50M in Preferred Stock Financing to Accelerate Michigan Data Center Buildout
Hyperscale Data, Inc., a diversified holding company, announced it has secured a new equity financing agreement worth up to $50 million with an unnamed institutional investor. The funding will come through the purchase of up to 50,000 shares of newly designated Series B Convertible Preferred Stock and will be directed toward developing the company’s advanced data center in Michigan.
Backing for Strategic Growth Plans
William B. Horne, Chief Executive Officer of Hyperscale Data, said, “The Preferred Transaction represents a strong endorsement of our vision and business model.”
He added, “With this infusion of capital, we will be well-positioned to advance construction of our Michigan data center and expand capacity to meet the accelerating demand for scalable, energy-efficient data center infrastructure.”
The planned data center will cater to enterprise clients, artificial intelligence (AI) systems, and high-performance computing (HPC) applications. Designed as a hyperscale-ready campus, the facility will include modern cooling technologies and robust power systems, all while emphasizing sustainability and operational efficiency.
Advancing Digital Infrastructure and Local Impact
Milton Todd Ault III, the Executive Chairman of Hyperscale Data, stated that they are building for the future by establishing digital infrastructure that is resilient, efficient, and future-proof. He mentioned that the Preferred Transaction would enable them to execute their vision quickly and at scale, while also contributing to economic development and job creation in the local community.
He further noted that the expansion of the power capacity at their Michigan data center would begin in the coming months, and stockholders would be updated as the buildout progresses.
Also read: Nexthop AI Raises $110 Million to Redefine AI Networking Infrastructure
Flexible Monthly Financing Terms
Under the agreement, the investor must fund at least $1 million monthly, with the option to accelerate the closings depending on certain conditions. The company stated that the full details of the Preferred Stock offering and related terms will be disclosed in a forthcoming Form 8-K filing with the US Securities and Exchange Commission.
