By Katherine Hamilton
Ault & Co. will acquire preferred shares of Hyperscale Data, backing out of a planned tender offer to purchase the company's common stock.
The private holding company said on Thursday it plans to pursue transactions under the recently completed securities purchase agreement where it has the right to buy up to $25 million in shares of Hyperscale Data's Series G convertible preferred stock.
Ault & Co. had planned to buy 111,000 shares of Hyperscale's common stock at $7.50 to $10 a share.
The company said it believes the current stock price is below Hyperscale Data's long-term intrinsic value. The company may consider revisiting a tender offer once the purchase of the preferred shares is complete, it said.
Ault & Co. invests in securities and, along with its affiliates, owns about 92% of Hyperscale Data's outstanding shares of common stock. Hyperscale is a data center operator.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
January 02, 2025 17:18 ET (22:18 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。