Sharon AI Accelerates US$74M Receipt, Option to Convert 20% into 893,724 NUAI Shares
Sharon AI collected the US$50M convertible note payment and 893,724 true-up shares from New Era Energy & Digital, boosting data center sale proceeds to US$74M. Company can convert 20% of the note to NUAI stock by April 17, with remainder plus interest payable in cash by April 24.
1. Accelerated Receipt of Proceeds
On April 10, 2026, NUAI redeemed the full US$50 million convertible promissory note ahead of its June maturity, delivering the final principal payment plus accrued interest to Sharon AI. Combined with US$10 million received in late March, this brings total proceeds from Sharon AI’s 50% stake sale in Texas Critical Data Centers LLC to US$74 million.
2. True-Up Share Issuance and Conversion Option
Under the Membership Interest Purchase Agreement, Sharon AI received 893,724 NUAI true-up shares following NUAI’s recent public offering at US$3.35 per share. The company can convert up to 20% of the US$50 million note into NUAI common stock by April 17, with the balance and accrued interest payable in cash by April 24.
3. Strengthened Financial Flexibility
The accelerated US$74 million inflow bolsters Sharon AI’s balance sheet with non-dilutive funding, supporting its plans to scale sovereign AI and HPC cloud infrastructure in Australia. Management intends to deploy these funds toward advanced GPU capacity, strategic partnerships, and high-performance AI solutions for hyperscale, enterprise, research, and government customers across Asia-Pacific.