Sharon AI receives $74 million from data center joint venture sale

Sharon AI Holdings Inc. (NASDAQ: SHAZ) announced it received accelerated payment of $50 million from New Era Energy & Digital Inc. (NASDAQ: NUAI) related to the sale of its 50% ownership stake in Texas Critical Data Centers LLC.

The payment represents the outstanding principal amount of a senior secured convertible promissory note originally scheduled to mature on June 30, 2026. NUAI exercised its option to redeem the note early on April 10, 2026, according to the company's statement.

Sharon AI has until April 17, 2026 to convert up to 20% of the principal amount into NUAI common stock, with the remaining balance due in cash by April 24, 2026.

The Australian cloud computing company also received approximately 893,724 additional NUAI shares through a true-up provision following NUAI's recent public offering at $3.35 per share.

Combined with $10 million received in late March, the total consideration from the joint venture sale reached $74 million, exceeding the originally anticipated $70 million by $4 million.

"The early redemption of the $50 million promissory note and the true-up share issuance from NUAI demonstrate the strength of our partnership and strengthens our balance sheet with non-dilutive funding," said James Manning, chief executive officer of Sharon AI.

Sharon AI operates high-performance computing infrastructure focused on artificial intelligence and cloud GPU services in the Asia-Pacific region.

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