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Sharon AI Announces Closing of Private Offering of Convertible Senior Notes With Aggregate Gross Proceeds of US$350 Million

  • SharonAI Holdings Inc. (NASDAQ: SHAZ) closed a private offering of Convertible Senior Notes due in 2031 to qualified institutional buyers under Rule 144A.
  • The financing was led by Oaktree Capital Management, L.P., with participation from Two Seas Capital LP & other institutional investors.
  • Proceeds will fund GPU & network procurement & working capital to support revenue-generating AI cloud deployments.
  • The company has a US$950 million, five-year cloud computing infrastructure agreement with a global technology company having a major Asia-Pacific presence.
  • Revenue from the aforementioned agreement is expected to commence by the end of the third & fourth quarters of 2026.
  • Lucid Capital Markets served as the sole placement agent for the transaction.
  • Legal counsel included Sheppard Mullin Richter & Hampton for Sharon AI, Ellenoff Grossman & Schole LLP for the placement agent, & Latham & Watkins LLP for Oaktree.
  • Terms of the Notes are detailed in the Form 8-K filed with the SEC on April 28, 2026.
  • Sharon AI is an Australian Neocloud focused on High-Performance Computing for AI & Cloud GPU Compute Infrastructure.