Dilution profile // every instrument, one screen, from SEC filings

Hyperscale Data, Inc. (GPUS)

CIK 896493 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGH$1009M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
one or more live registrations had no structured fee data, so the true total is AT LEAST this
Overhead supply
MEDIUMwarrants = 42% of O/S
= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)
warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this
Historical dilution
LOW-100% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
HIGH~2 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)
the company itself flagged going-concern doubt

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2019-05-172025-04-14

Latest: 1.5M shares as of Apr 14, 2025 (10-K). Share count fell from 415.7M to 1.4M between Apr 17, 2023 and May 19, 2023, a pattern consistent with a reverse split (roughly 1-for-300); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Going-concern warning

auditor flagged substantial doubt

The company itself flagged going-concern doubt in a filing.

Full breakdown: cash runway tool

Warrants

Warrants outstanding: 639,105 underlying shares, as reported Dec 31, 2025 (10-K).

Reported exercise price: $4.5925 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 2.2M = 1.5M O/S + 639,105 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
Convertible Debtnot tagged$17.5Mnot tagged

Notes exactly as the company dimensioned them in its 10-Q filed May 18, 2026. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding1.5MApr 14, 2025
+ Warrants (aggregate, as tagged) (if exercised)639,105Dec 31, 2025
Fully diluted estimate2.2M+41.8% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

Registered offering capacity on live registrations: $1008.8Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3Dec 31, 2025$8.8M registeredfiling →
S-3Nov 17, 2025$1000.0M registeredfiling →
S-3Jul 18, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 14 executed · 6 registered.

EXECUTEDJun 18, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEJun 15, 2026SEC declared a registration effective — selling can beginEFFECT
EXECUTEDJun 11, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
REGISTEREDMay 29, 2026S-3/A registration — capacity to sell shares, not a sale yetS-3/A
EXECUTEDMay 28, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
REGISTEREDMay 22, 2026S-3/A registration — capacity to sell shares, not a sale yetS-3/A
REGISTEREDApr 27, 2026S-3/A registration — capacity to sell shares, not a sale yetS-3/A
EXECUTEDFeb 13, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJan 16, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
REGISTEREDDec 31, 2025S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDDec 19, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEDec 11, 2025SEC declared a registration effective — selling can beginEFFECT

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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