Digi Power X Announces Upsizing of At-the-Market Offering Program

Rhea-AI Summary

Digi Power X (Nasdaq:DGXX) announced on May 8, 2026 an upsizing of its at-the-market equity offering by US$100 million, raising the program size to US$175 million under an amended April 9, 2026 sales agreement with A.G.P./Alliance Global Partners.

Proceeds may be used for general corporate purposes, funding operations and Tier 3 data center construction, repaying indebtedness, and potential acquisitions; sales will occur on Nasdaq or other U.S. markets and will not be offered in Canada. The prospectus supplement is available on the SEC EDGAR website.

Positive

• ATM program increased to US$175 million capacity
• Ability to raise capital from time to time via market transactions
• Proceeds designated for operations, Tier 3 data center construction, debt repayment, and acquisitions

Negative

• Potential shareholder dilution from up to US$175 million of SV shares
• SV Shares cannot be offered or sold in Canada, limiting distribution

News Market Reaction – DGXX

+12.07%

20 alerts

+12.07% Session close to close

+5.4% Peak Tracked

-11.3% Trough Tracked

$499.42M Market Cap

0.5x Rel. Volume

In the May 11 session, DGXX gained 12.07%, reflecting a significant positive market reaction. Argus tracked a peak move of +5.4% during that session. Argus tracked a trough of -11.3% from its starting point during tracking. Our momentum scanner triggered 20 alerts that day, indicating elevated trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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MIAMI, FL / ACCESS Newswire / May 8, 2026 / Digi Power X Inc. (Nasdaq:DGXX)(Cboe Canada:DGX) (the "Company"), an AI data center infrastructure operator, today announced the upsizing by US$100 million of the previously announced "at-the-market" equity offering program (the "ATM Equity Program") established with A.G.P./Alliance Global Partners (the "Agent") pursuant to an amended and restated sales agreement dated April 9, 2026 (the "ATM Agreement").

On May 8, 2026, the Company filed a prospectus supplement to increase the size of the ATM Equity Program pursuant to which the Company may offer and sell, from time to time through the Agent, subordinate voting shares of the Company ("SV Shares") having an aggregate offering price of up to US$175 million. Sales of SV Shares, if any, in the ATM Equity Program are anticipated to be made in transactions that are deemed to be "at the market offerings" as defined in Rule 415(a)(4) under the U.S. Securities Act of 1933, as amended, directly on the Nasdaq Capital Market or another trading market for the SV Shares in the United States at the market price prevailing at the time of each sale. No SV Shares will be offered or sold under the ATM Equity Program in Canada, to anyone known by the Agent to be a resident of Canada or over or through the facilities of Cboe Canada or any other exchange or market in Canada. The ATM Equity Program may be terminated by either party at any time.

The Company intends to use the net proceeds of the ATM Equity Program, if any, primarily for general corporate purposes, including funding ongoing operations and/or working capital requirements, completing construction on the Company's Tier 3 data center facilities, repaying indebtedness outstanding from time to time, and completing potential acquisitions to expand power infrastructure capacity and build out its planned AI and HPC network.

For additional information on the ATM Equity Program, please see the Company's press releases of May 30, 2025, November 18, 2025 and April 9, 2026.The prospectus supplement is available on the SEC's EDGAR website at www.sec.gov/EDGAR.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any jurisdiction where the offer, sale or solicitation would be unlawful. The SV Shares referred to in this news release may not be offered or sold in the United States absent registration or an applicable exemption from registration.

About Digi Power X

Digi Power X is an AI infrastructure company, operating a vertically integrated portfolio of power assets and data center capacity across Alabama, New York, and North Carolina, with approximately 400 MW of secured power across its sites. The Company's NeoCloudz platform delivers GPU-as-a-Service on dedicated, bare metal NVIDIA infrastructure. For more information, visit www.digipowerx.com.

Investor Relations

For further information, please contact:

Michel Amar, Chief Executive Officer
Digi Power X Inc.
www.digipowerx.com

Investor Relations: T: 888-474-9222 | Email: IR@digihostpower.com

Cautionary Statement

Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Cboe Canada does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Except for the statements of historical fact, this news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. Forward-looking information in this news release includes statements regarding the business of the Company. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "goals,' "projects," "contemplates," "believes," "estimates," "forecasts," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking information is subject to a variety of known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: future capital needs and uncertainty regarding the Company's ability to raise additional capital; costs associated with the development, manufacturing and deployment of AI infrastructure; global demand for AI computing infrastructure; further improvements to profitability and efficiency may not be realized; and other related risks, some of which are more fully set out in the Company's annual report on Form 10-K for the year ended December 31, 2025 and other documents disclosed in the Company's filings at www.sedarplus.ca and in the Company's annual, quarterly and current reports filed with the SEC on its website, www.SEC.gov/EDGAR. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainties therein. The Company undertakes no obligation to revise or update any forward-looking information other than as required by applicable law.

SOURCE: Digi Power X Inc.

View the original press release on ACCESS Newswire

FAQ

What change did Digi Power X (DGXX) announce on May 8, 2026 regarding its ATM program?

The company increased its at-the-market program by US$100 million to US$175 million. According to the company, the upsized program is under an amended April 9, 2026 sales agreement with A.G.P./Alliance Global Partners and allows sales on U.S. markets.

How will Digi Power X (DGXX) use proceeds from the upsized ATM Equity Program?

Proceeds are intended for general corporate purposes, including operations, construction, debt repayment, and acquisitions. According to the company, uses include completing Tier 3 data center builds and expanding AI and HPC power infrastructure capacity.

Where will Digi Power X (DGXX) sell SV Shares under the upsized ATM program?

Sales are expected to occur on the Nasdaq Capital Market or other U.S. trading markets at prevailing market prices. According to the company, no SV Shares will be offered or sold under the program in Canada.

Does the Digi Power X (DGXX) ATM program create an obligation to sell shares?

No binding obligation to sell exists; the program permits sales "from time to time" and may be terminated by either party. According to the company, sales will occur only if and when the company elects to sell SV Shares.

Where can investors find the prospectus supplement for Digi Power X (DGXX) ATM upsizing?

The prospectus supplement is available on the SEC EDGAR website at www.sec.gov/EDGAR. According to the company, the supplement documents the increase and the amended and restated ATM sales agreement dated April 9, 2026.