Hyperscale Data Eyes $33.5 Million Through Tokenized Preferred Stock

The proposed offering involves 1,340,947 shares of the 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock, currently trading on the NYSE American under the ticker GPUS PD. By moving into the tokenization space, the Las Vegas-based company hopes to create a new financing channel while maintaining the economic and legal rights associated with the existing security. Since its issuance in June 2022, the series has maintained a track record of 52 consecutive monthly dividend payments.

Management intends to direct the proceeds toward critical infrastructure, including power distribution and cooling systems necessary to scale AI operations. CEO William B. Horne noted that the firm is evaluating the approach based on liquidity needs and the potential to support long-term development. Because the preferred stock is not convertible into Class A common shares, the company does not expect the offering to dilute existing common stockholders. The firm maintains a 2027 financial outlook projecting revenue between $300 million and $350 million, which leadership believes supports the increased dividend obligations.