M&A
confidence high
sentiment neutral
materiality 0.70
1606 Corp. signs non-binding term sheet to acquire Texas 55 MW power/ data-center facility for $11.67M
1606 CORP.
- Total consideration $11.67M: $7.5M cash plus assumption of $4.17M debt; $500K earnest money upon definitive agreement.
- Asset includes 132 acres, 55 MW power generation facility, and 50,000 sq ft data-center ready warehouse in Lufkin, TX.
- Expected close on or before March 11, 2026, subject to negotiation of definitive agreements and customary conditions.
- Company also discloses ongoing negotiations to acquire Sim Agro, a power-plant operations firm, to run the asset.
- CEO states acquisition is a step toward building scalable power infrastructure and pursuing higher exchange listing.