Hyperscale proposes a tender offer repurchase at an 82% premium, with a cap of US$50 million.

Hyperscale Data (GPUS), an NYSE American-listed AI data center company, plans a tender offer to repurchase up to 192,307,692 Class A common shares at $0.26 per share, implying a maximum size of roughly $50 million, paid in cash plus newly issued preferred stock. Each 100 shares would exchange for one unit containing $2 in cash and one preferred share with a $24 stated value and a 12.00% annual dividend, a price 82% above the November 6 close of $0.1429. The offer requires at least 100 million common shares to participate and remains subject to board and regulatory approval, with launch expected around November 17. Hyperscale intends to list the preferred stock on NYSE American, with trading projected to begin within 30 days of approval. Executive chairman Milton "Todd" Ault III framed the move as addressing a gap between intrinsic value and the share price, offering shareholders liquidity and a fixed-income instrument while letting the company buy back stock at a steep discount. The company argues its market cap fails to reflect balance-sheet strength, including cash and bitcoin holdings; investors will watch whether the 100-million-share participation threshold is met and whether the preferred listing is cleared.