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New Era Energy aims to raise up to $350 million through a sale of securities, including common and preferred stock, debt securities, and warrants. Proceeds will be utilized for general corporate purposes, such as acquisitions, debt refinancing, and capital expenditures.

The company has shifted focus from natural gas to developing data center campuses, particularly the Texas Critical Data Centers (TCDC), a 438-acre site in Ector County, Texas, designed for over one gigawatt of compute capacity, with power delivery expected by the end of 2027. Following the filing of a mixed securities shelf with the U.S.

SEC, shares of New Era Energy & Digital Inc. (NUAI) fell over 15% in pre-market trading. Despite this, NUAI stock has risen 175% year-to-date and 167% over the past 12 months.