BUUU Group signs deal to buy 60% stake in modular data center firm Brightray Science - BUUU News | RalliesBUUU Group signs deal to buy 60% stake in modular data center firm Brightray Science
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BUUU• Concurrent financings target more than USD 60 million
- Concurrent private placements, including potential warrant exercises at USD 10 per share, are expected to raise more than USD 60 million.
- The proceeds are intended for capacity expansion and working capital.
BUUU agrees to acquire controlling stake in Brightray Science
- BUUU agreed to acquire a 60% stake in Brightray Science, a prefabricated modular data center solutions provider.
- Consideration includes newly issued BUUU Class A shares priced at USD 20 per share.
- Sellers also receive a promissory note convertible into up to 10,000,000 BUUU shares, subject to performance adjustments and a 19.99% cap.
- BUUU holds a call option to buy the remaining 40% within three years of closing; Brightray founder Bin Wang is set to join as co-CEO.
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