New Era Energy & Digital Inc. (NASDAQ: NUAI) announced it has secured a $290 million senior secured term loan credit facility through its subsidiary Texas Critical Data Centers LLC with Macquarie Group's Commodities and Global Markets division.

The financing is structured across multiple tranches: a $20 million committed Term Loan A-1, a $30 million Term Loan A-2, a $40 million Term Loan A-3, and a $200 million Delayed Draw Term Loan. The loans mature three years from the closing date.

The company plans to use proceeds for general corporate purposes, including acquiring, improving and equipping properties for its Texas Critical Data Center project. The facility will also support potential repayment of existing debt.

As part of the agreement, Macquarie will purchase $5 million in New Era common stock at $5.00 per share, representing a 20% premium to the five-day volume weighted average price. Macquarie will also receive warrants to purchase up to $5 million in shares at the same premium pricing structure, with a $4.30 floor price.

New Era develops digital infrastructure and power assets in the Permian Basin. The company's flagship Texas Critical Data Centers project spans 438 acres in Ector County near Odessa, Texas, with planned capacity scaling to over one gigawatt across multiple development phases.

Vinson & Elkins served as legal counsel to New Era, while Latham & Watkins represented Macquarie. Northland Capital Markets advised New Era on capital markets matters.

The information is based on a company press release statement.