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SharonAI Closes $1.6 Billion Strategic Financing

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SharonAI (SHAZ) said Monday it has closed its oversubscribed $1.6 billion private placement financing.

The placement comprised of about $900 million shares and pre-funded warrants, and $700 million of 4.75% convertible senior notes due 2032, the company said.

The financing was anchored by Situational Awareness and funds managed by Oaktree Capital Management, along with new and existing institutional and strategic investors, it said.

SharonAI said it plans to use the net proceeds for its compute collaboration with Nvidia (NVDA), and broader expansion plans.

Price: $79.65, Change: $-2.41, Percent Change: -2.93%

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