New Era Energy slides on $100 mln stock sale

New Era Energy & Digital

09/04/2026 12:36

** Digital infrastructure and power assets developer New Era Energy & Digital NUAI.O down 12.8% premarket to $3.61 after follow-on prices

** Midland, Texas-based firm sold ~29.9 mln shares at $3.35 for $100 mln gross proceeds

** Offering priced at 19.1% discount to stock's last sale on Weds

** Co intends to use net proceeds to repay all outstanding borrowings under convertible promissory note payable to SharonAI, Inc, any remainder for general purposes

** Northland Capital Markets lead bookrunner for offering, joined by Texas Capital Secs

** After the bell Weds, NUAI announced closing up to $290 mln secured term loan with division of Macquarie Group to finance its Texas Critical Data Center project

** NUAI has ~61.3 mln shares outstanding

** Through Weds, stock up 41% YTD

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))