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Stock Markets February 13, 2026

Hyperscale Data Announces $35.4M Preferred Stock Offering; Shares Drop After-Hours

Company to sell 13% Series D perpetual preferred stock with proceeds earmarked largely for Bitcoin and possible precious metals purchases

By Priya Menon GPUS
Hyperscale Data Announces $35.4M Preferred Stock Offering; Shares Drop After-Hours
GPUS

Hyperscale Data disclosed an at-the-market offering of its 13% Series D Cumulative Redeemable Perpetual Preferred Stock for up to $35.4 million, naming Wilson-Davis & Co. as sales agent. The company said most net proceeds are intended for Bitcoin acquisitions and possible purchases of gold, silver and copper, with a smaller portion allocated to working capital and general corporate needs. The announcement preceded a 12.8% decline in the company's stock in after-hours trading.

Key Points

  • Hyperscale Data launched an at-the-market offering for 13% Series D Cumulative Redeemable Perpetual Preferred Stock to raise up to $35.4 million.
  • Wilson-Davis & Co., Inc. will serve as the sales agent for the offering, which may be executed via ordinary broker transactions on the NYSE American or at prevailing market prices.
  • The company stated it intends to use the majority of net proceeds to acquire Bitcoin and possibly to buy gold, silver and copper; a smaller portion will be used for working capital and general corporate purposes, potentially including debt repayment or stock repurchases.

Hyperscale Data, Inc. (NYSE:GPUS) announced an at-the-market equity program for its preferred stock and subsequently saw its shares decline 12.8% in after-hours trading on Friday. The offering will put up to $35.4 million of gross proceeds within reach through the sale of its 13% Series D Cumulative Redeemable Perpetual Preferred Stock.

The company named Wilson-Davis & Co., Inc. as the sales agent for the program. According to Hyperscale Datas announcement, the majority of net proceeds from sales under the program are intended to be used to acquire Bitcoin and to potentially purchase certain precious metals, explicitly listing gold, silver and copper.

A portion of the funds raised will be reserved for working capital and general corporate purposes. The statement indicates these corporate uses may include activities such as debt repayment or stock repurchases, though no specific plans were detailed.

Sales under the program will be conducted in transactions deemed "at-the-market," which the company described as including ordinary brokers transactions on the NYSE American or sales at prevailing market prices. Management also stressed that it cannot predict with certainty all particular uses for the net proceeds, and that company leadership retains broad discretion over the timing and application of any funds raised through the offering.

The offering structure and the stated allocation of potential proceeds link capital markets activity to Hyperscale Datas operational emphasis on AI data center services and its Bitcoin operations. The announcement and the mechanics of how shares may be sold at market prices corresponded with the notable after-hours share-price move.

Contextual summary

Hyperscale Data is pursuing an at-the-market sale of perpetual preferred shares to raise up to $35.4 million. Most net proceeds are intended for cryptocurrency and potential precious metals purchases, while a smaller share is reserved for corporate liquidity needs. The offering was followed by a material after-hours drop in the companys quoted stock price.

Risks

  • Immediate negative market reaction evidenced by a 12.8% after-hours share-price decline following the announcement - impacts equity investors and capital markets participants.
  • Management explicitly stated it cannot predict with certainty all particular uses for the net proceeds, giving leadership broad discretion over timing and application of raised funds - introduces strategic and execution uncertainty for shareholders.
  • The offering will be conducted at prevailing market prices, which may affect the proceeds realized and the timing of sales - relevant to investors monitoring dilution and market execution.

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