Hyperscale Data cuts ATM offering capacity by $200M to $100M

Hyperscale Data, Inc. (NYSE American: GPUS) has amended its At-the-Market issuance sales agreement, reducing the maximum amount of Class A common stock that can be sold under the agreement from $300 million to $100 million.

The amendment, made to the agreement originally dated June 18, 2026, with sales agent Spartan Capital Securities, LLC, limits the remaining capacity available under the ATM offering. The company said it has already sold 121,827,841 shares under the agreement, raising approximately $49.8 million in gross proceeds, or approximately $0.41 per share.

"Based on our current capital plans, we do not believe the additional $200 million of ATM capacity is currently necessary," said Will Horne, Chief Executive Officer of Hyperscale Data. "We believe that our equity is significantly undervalued and this $200 million reduction will limit the dilution to our equity and is in the best interests of our stockholders."

Horne added that the company intends to use debt financing to help fund the buildout of a Michigan AI data center, with preliminary estimates suggesting the facility could support project debt financing of between $100 million and $150 million. The facility is intended to initially support 20 megawatts of critical compute capacity for a neocloud customer.

According to a press release, the company may evaluate additional capital markets options in the future.

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