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New Era Energy & Digital Files Q1 2026 Form 10-Q and Highlights Strategic Progress

NUAI
  • New Era Energy & Digital, Inc. filed its Form 10-Q for the quarter ended March 31, 2026.
  • The Company will host a business update call on May 18, 2026 at 5:00 p.m. Eastern Time.
  • First quarter results reflect legacy oil and gas operations which management is evaluating for monetization or exit.
  • New Era entered a definitive agreement to acquire a 54-acre corridor adjacent to TCDC, increasing total landholding to 492 acres.
  • A non-binding letter of intent was announced with Stream Data Centers to support TCDC development.
  • Ted Warner was appointed Chief Financial Officer and Andy Casazza was appointed Chief Corporate Officer.
  • Definitive project documentation, including a joint venture agreement and a lease with an investment-grade hyperscaler, is progressing.
  • The Company completed a $115 million registered offering of common stock.
  • A credit facility of up to $290 million was closed with Macquarie, including a $5 million equity investment at $5.00 per share.
  • The SharonAI note was repaid to simplify the capital structure.
  • TCDC project financing post-lease targets approximately 80% debt financing at the asset level.
  • Cash position exceeded $80 million as of April 30, 2026, providing sufficient liquidity for TCDC Phase 1.
  • Development workstreams advanced toward Phase 1 site readiness, including civil engineering, permitting, and equipment procurement.
  • Near-term milestones include site clearing, earthworks, Industrial District designation, and construction-enabling permits.
  • TCDC is a 438-acre AI data center campus in Ector County, Texas, with anticipated capacity scaling to 1.4 gigawatts.