New Era Energy & Digital Redeems US$50M Note Early, Issues 893,724 JV Shares
NUAI accelerated redemption of a US$50 million senior secured convertible note from Sharon AI, redeeming principal plus accrued interest, with 20% convertible into stock by April 17 and balance due in cash by April 24, 2026. It also issued 893,724 true-up shares at a US$3.35 price, totaling US$74 million.
1. Early Redemption Notice
On April 10, 2026 NUAI exercised its Optional Redemption right to redeem the full US$50 million principal of the senior secured convertible note held by Sharon AI, along with accrued interest. Sharon AI may convert up to 20% of this principal into NUAI common stock by April 17, 2026, with the remaining US$40 million payable in cash by April 24, 2026.
2. True-Up Share Issuance
Following its recent public offering at US$3.35 per share, NUAI issued a True-Up Notice under the Membership Interest Purchase Agreement, resulting in Sharon AI receiving approximately 893,724 additional common shares. Along with the US$10 million cash already received, this brings total consideration for the 50% stake in Texas Critical Data Centers to US$74 million.
3. Transaction Finalization and Obligations
These steps complete NUAI’s acquisition of the 50% interest in the Texas Critical Data Centers joint venture ahead of schedule and obligate the company to disburse US$40 million in cash and issue nearly 893,724 shares. The accelerated timeline enhances execution certainty for NUAI’s infrastructure expansion initiatives.