← New Era Energy & Digital · FinancingEdit
Equity purchase facility (Fourth A&R EPFA) — up to $1.0 billion of common stock (terminated)
Oct 16, 2025 · OtherTerms of issuance
Instrument
Other
Principal
$1.00B
Net proceeds
Issue date
Oct 16, 2025
Maturity
Seniority
Conversion ratio
n/a
Settlement
n/a
Economic analysis
Effective annual cost
n/acalculated: coupon + capped-call cost amortized over the note's life — needs coupon, maturity, and (if hedged) capped-call cost
Interest savings vs. plain debt
n/anot shown — would require an assumed comparable straight-debt rate, which we do not fabricate
Implied option value / volatility
n/anot shown — would require an assumed volatility input, which we do not fabricate
Breakeven
n/anot shown — would require assumed reinvestment/discount-rate assumptions, which we do not fabricate
Context
Shares outstanding (as of issue date)
25,979,535
Stock price / market cap (as of issue date)
n/ano price on or before the issue date
Use of proceeds
Other financing outstanding (excl. this instrument)
Secured promissory note (shareholder loan from Joel Solis) ($4.0M), Amended and restated convertible promissory note (Zachary Yi Zhou shareholder loan) ($5.0M), Underwritten public offering of common stock at $3.35/share (incl. over-allotment) ($114.9M), Senior secured convertible promissory note issued to SharonAI (prepaid in full) ($50.0M), At-the-market equity program (up to $100 million of common stock) ($100.0M), Standby letter of credit reimbursement agreement (Macquarie Bank Limited) ($116.0M), Warrants issued to Macquarie Equipment Capital Inc. (413,055 shares), Senior secured project term loan (Texas Critical Data Centers LLC) ($290.0M), Private placement of common stock (PIPE) - 23,272,727 shares at $2.75/share ($64.0M)
— of which existing debt
$743.9M
Existing cash
n/anot tracked in the system yet
Anti-dilution adjustment terms
n/a
Related acquisition
none
Related deal
none
Related site
none
Sources
OtherNew Era Energy & Digital terminates $1.0 billion equity purchase facility
Oct 16, 2025