Z Squared agrees to buy Paradox Data, expands deal to 100% acquisition

Z Squared agreed to acquire 100% of Paradox Data, expanding a previously outlined majority-stake deal into a full buyout.

• Consideration totals up to $25 million, paid entirely in newly designated Series A Convertible Preferred Stock, with no cash at closing.
• $5 million of preferred stock will be issued at closing, convertible at a fixed $7.45 per share.
• Up to $20 million more is tied to development milestones at the Union County Campus, targeting up to 150 MW of AI-ready capacity.
• Closing is targeted within 30 days, with an outside date of Sept. 30, 2026, extendable to Dec. 31, 2026.