New Era Energy & Digital Inc. (NASDAQ: NUAI) announced it secured a $290 million senior secured term loan credit facility from Macquarie Group's Commodities and Global Markets division to finance its Texas Critical Data Center project.

The facility 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 subject to certain conditions. The loans mature three years from the closing date.

New Era will use proceeds for general corporate purposes, including acquisition, improvement and equipping of properties for the Texas Critical Data Center project, and potential repayment of existing debt.

Under the agreement, Macquarie will purchase $5 million in New Era common stock at a 20% premium to the five-day volume weighted average price at issuance. Based on the company's April 7 closing price, this equals $5.00 per share. Macquarie will also receive warrants to purchase up to $5 million of common stock at an exercise price of $5.00, representing a 20% premium with a floor price of $4.30.

New Era develops digital infrastructure and power assets in the Permian Basin. The Texas Critical Data Center encompasses 438 acres in Ector County outside 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 acted as capital markets advisor to the company.