ConvertibleActiveBTC
12.5% Convertible Notes due 2027
GPUS-Nov27
BTC Holdings
639.214 BTC
Total Debt
$36.06M
Leverage
0.0%
mNAV
0.48x
Outstanding
$12.77M
Insufficient history
Issue date
2025-12-02
Principal
$12.77M
Coupon
12.50%
Maturity
2027-11-30
Conversion price
$0.32
- Variable conversion: lower of $0.3235 or 85% of 3-day VWAP (floor $0.30)
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior secured
- Settlement
- Shares
- Payment frequency
- Monthly
- Payment dates
- Last Business Day
- Rate type
- Fixed
- Call provision
- Prepayable in full (not partial) after Dec 2, 2026 (first anniversary of closing), subject to conditions
- Put provision
- If conversion price below $0.30 floor price as of last trading day of any month, investors may require redemption of up to $250,000 of principal in the following month, beginning 120 days after closing
- Use of proceeds
- No restriction on use; explicitly permits Bitcoin purchases. BTC collateral (125% of principal) deposited at Gemini.
Sources(1)
- Form 8-K (convertible not…FilingForm 8-K (convertible notes)Item 2.03Hyperscale Data, Inc. — 2025-12-02
Participants
Holders & Underwriters(1)
- Form 8-K (convertible not…JGB Management Inc.holder$12.8Mas of 2025-12-02JGB Capital LP, JGB Partners LP, and JGB Capital Offshore Ltd.
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2025-12-02 | Issuance | $12.77M | Form 8-K (convertible not… |
- 2025-12-02 — $12,768,000Item 2.03 — filing — Hyperscale Data, Inc.Source