Hyperscale Data (GPUS) said Friday it plans to launch a tender offer to purchase up to $5 million of its stock at a price of $0.21 per share after filing its quarterly report.
The company said the move is intended to bridge the gap between its current market value and balance sheet strength.
Hyperscale Data said it intends to finance the proposed offer through existing cash on hand.
Shares fell 3.2% in Friday trading.
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