SharonAI closes $1.6B private placement financing round

SharonAI Holdings Inc. (NASDAQ: SHAZ) has closed a $1.6 billion private placement financing, according to a press release from the company.

The transaction consisted of two parts: a roughly $900 million private placement of 6,719,896 shares of Class A Ordinary Common Stock and pre-funded warrants to purchase 6,374,823 additional shares, and a $700 million private placement of 4.75% Convertible Senior Notes due 2032 sold to qualified institutional buyers under Rule 144A of the Securities Act of 1933.

The financing was anchored by Situational Awareness L.P. and funds managed by Oaktree Capital Management, L.P., alongside new and existing institutional and strategic investors.

The company said proceeds will be used to fund a six-year strategic compute collaboration with Nvidia, which includes plans to deploy up to 40,000 Grace Blackwell GB300 GPUs as part of what the company described as one of Australia's largest AI factories, as well as broader expansion plans.

Goldman Sachs & Co. LLC acted as lead placement agent. Lucid Capital Markets also served as placement agent, and Macquarie Capital acted as financial advisor. Sheppard Mullin Richter & Hampton LLP provided legal counsel to SharonAI.

The company said it will file additional details about the transaction in a Form 8-K with the Securities and Exchange Commission.

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