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Sharon AI (OTC:SHAZ) entered a binding term sheet to sell its 50% interest in Texas Critical Data Centers LLC for an aggregate US$70m to joint-venture partner New Era Energy & Digital. Proceeds comprise a US$50m senior secured convertible promissory note (Sharon AI may convert 20% of the note into New Era common stock based on the 30‑day VWAP at the note due date of 30 June 2026), US$10m cash payable upon certain events no later than 31 March 2026, and US$10m equity in New Era shares payable on similar conditions by that date.
The sale is intended to fund Sharon AI’s core Neocloud expansion and follows a prior ~US$100m convertible note capital raise.
Sharon AI (OTC:SHAZ) completed an at-least US$100m convertible note capital raise as of 19 December 2025, led by Canaccord Genuity Australia with participation from new and existing institutional and strategic investors.
Net proceeds are expected to be used primarily to acquire high-density NVIDIA GPU compute (B200, B300, GB300) to accelerate deployment and customer engagement across the Asia-Pacific region. Sharon AI previously signed a NextDC agreement on 4 November 2025 to expand data centre footprint by up to 50MW, and lists partners including Cisco, Megaport, Lenovo, VAST Data and World Wide Technology.
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