New Era Energy & Digital announced on October 29, 2026, that it had agreed to a private placement of common stock expected to raise approximately $64 million in gross proceeds. The New Era placement is expected to close on October 30, subject to customary conditions.

Key Takeaways

  • New Era plans to issue 23,272,727 shares at $2.75 each.
  • The company intends to repay recent Macquarie facility borrowings and fund working capital and other corporate purposes.

New Era placement terms and use of proceeds

The company said it entered into a securities purchase agreement for the private investment in public equity, or PIPE. The shares will be issued at closing; the announced proceeds are before expenses.

New Era also agreed with the investors to file a registration statement with the U.S. Securities and Exchange Commission covering resale of the shares. The securities have not been registered and generally cannot be offered or sold in the United States without registration or an applicable exemption.

Financing and the Texas data center project

Chairman and CEO Charlie Nelson said the capital raise was intended to strengthen the company’s financial position and meet near-term financing needs while it advances leasing negotiations for 757 megawatts across the first two phases of Texas Critical Data Centers. He said an existing Macquarie facility offers up to $200 million in financing after a lease is secured.

For the project’s first phase, New Era has a 20-year power purchase agreement with Vistra affiliate Luminant for between 200 and 207 megawatts. Power is expected to become available in the third quarter of 2027.

Next milestone

The next confirmed milestone is the expected October 30 closing, subject to customary conditions.

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