Z Squared, Inc. Secures $50 Million for AI Infrastructure Development
Z Squared, Inc. has initiated a $50 million committed equity forward purchase agreement to facilitate its AI infrastructure expansion. This funding will support the acquisition and conversion of sites to achieve a target of 100 megawatts of AI-ready capacity across the U.S.
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Z Squared, Inc. has entered into a $50 million committed equity forward purchase agreement with LucentHash / Data Part Capital. This agreement allows the company to draw funds as needed for site acquisitions and operational milestones, aiming for 100 megawatts of AI-ready capacity across various U.S. locations.
Each draw is priced at 95% of the volume-weighted average price over a specified five-day window, with a 9-month lock-up period for shares issued. The company has begun its Phase 1 strategy by signing a letter of intent to acquire Skycore Digital, which has three sites in North Carolina providing 42 megawatts of potential capacity. This structured financing supports Z Squared's growth without increasing leverage, potentially positioning the company advantageously within the competitive AI infrastructure market.
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