Hyperscale Data moves higher after $5M tender, all eyes on 10-Q
Hyperscale Data Inc. said Friday it will launch a tender offer to buy up to $5 million of its Class A common stock for $0.21 a share. According to management, the stock is trading for less than the value shown on the books. The offer will let stockholders sell shares back to Hyperscale Data at that price in an issuer tender offer. Why is this important? Hyperscale’s GPUS stock hasn’t closed the gap to the proposed tender price, but it surged today on heavy volume. GPUS’s last trade was at $0.146 after swinging from a session high of $0.1869 to a low of $0.1187. Turnover was more than 159 million shares.