TSS, Inc. - TSSI STOCK NEWS

TSS Inc. (NASDAQ:TSSI) has secured a $20 million credit facility from Susser Bank to support its expansion plans in response to growing AI technology demand. The company has leased 212,793 square feet at Georgetown Logistics Park, Texas, as part of its infrastructure expansion strategy to support a recently announced long-term customer agreement.

The five-year credit facility carries an interest rate of one-month term SOFR plus 3.00% annually, with interest-only payments for up to six months before converting to a fully amortizing term loan. The company has also filed a shelf registration statement with the SEC for potential future capital raising flexibility.

Construction has begun at the Georgetown facility, which is expected to be operational in early 2025. The funding will be used specifically for facility improvements to meet projected customer demand in the AI space.

TSS Inc. (Nasdaq:TSSI) has signed a multi-year lease agreement for a 212,793 square foot facility at Georgetown Logistics Park, Texas. This expansion more than doubles the company's current space and is part of their headquarters relocation plan to support growing AI integration demands.

The expansion follows a previously announced long-term agreement with their primary customer in October. The company plans to begin facility fit-out immediately and expects to be operational in the first quarter of 2025. This strategic move aims to enhance TSS's capacity to meet increasing market demands for AI infrastructure services.

TSS Inc reported significant growth in Q3 2024, with revenue increasing 689% to $70.1 million and net income rising 1,166% to $2.6 million. The company achieved substantial growth across all segments: systems integration revenues up 361% to $7.6 million, facility management revenues up 8% to $2.0 million, and procurement revenues up 1,016% to $60.5 million. TSS signed a multi-year agreement for AI rack integration and announced plans to relocate to a larger facility in early 2025. The company successfully uplisted to the Nasdaq Capital Market and expects similar performance through H1 2025.

TSS Inc. (OTCQB:TSSI), a data center services company specializing in AI and high-performance computing infrastructure, announced its approval for uplisting to the Nasdaq Capital Market. Trading will begin on November 14, 2024, under the ticker symbol 'TSSI'. The company will continue trading on OTCQB until November 13, 2024. CEO Darryll Dewan highlighted that the uplisting represents a significant milestone, expecting improved liquidity, increased visibility, and potential to attract new investors. The company sees strong prospects in AI-enabled rack integration services amid growing AI technology demand.

TSS Inc (OTCQB:TSSI), a leading data center services company specializing in AI and high-performance computing infrastructure, has announced its participation in the 15th Annual Craig-Hallum Alpha Select Conference. The event will take place on November 19, 2024, at the Sheraton NY Times Square Hotel in New York. CEO Darryll Dewan and CFO Danny Chism will represent the company in one-on-one meetings during the conference.

TSS Inc (OTCQB:TSSI), a data center services company specializing in AI and high-performance computing infrastructure, has announced it will release its third quarter 2024 financial results on Thursday, November 14, 2024. The company will host a conference call at 5:00 p.m. eastern time on the same day. Participants can join via phone using toll-free numbers or access the live audio webcast online. A replay will be available until November 28, 2024, and the webcast recording will be accessible for one year.

TSS Inc (OTCQB:TSSI) announced plans to relocate its headquarters and factory to address growing demand for AI integration services. The new facility will increase capacity by over 60% and triple testing capabilities for direct liquid-cooled racks. The facility will support racks using 3x-5x current power levels and is expected to begin operations in early 2025. The expansion, estimated to cost $25-30 million, will be financed through bank debt and cash on hand. The move is supported by a new multiyear customer agreement with one of TSS's largest customers.

TSS, Inc. (OTCQB:TSSI), a leading data center services company in the AI and high-performance computing infrastructure market, has announced its participation in the LD Micro Main Event XVII. The conference is scheduled for October 28-30, 2024 at the Luxe Sunset Boulevard Hotel in Los Angeles.

Darryll Dewan, CEO, and Danny Chism, CFO, will be presenting on Wednesday, October 30, 2024 from 11:30-11:55 am PT in Track 2. The presentation will be live-streamed at https://me24.sequireevents.com/. TSS will also be hosting one-on-one meetings during the event.

Interested parties can contact their conference representative or email tssi@haydenir.com to schedule a meeting with TSS management or for more information about the conference.

TSS, Inc. (OTCQB:TSSI), a leading data center services company in the AI and high-performance computing infrastructure market, has appointed Michael Fahy as an independent director to its board. Fahy, currently CEO and President of Neovia Logistics, brings extensive experience in global supply chain management and digital transformation. He previously served as CEO of the Americas region at DB Schenker.

TSS CEO Darryll Dewan expressed confidence in Fahy's ability to provide valuable insights as the company executes its growth strategy. Fahy, recognizing TSS's position in the growing AI and high-performance computing infrastructure demand, stated his excitement to join the board and contribute to the company's successful growth.