secwatch.observer — SEC 8-K summary
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Issuer:     SharonAI Holdings Inc. (SHAZ)
CIK:        0002068385
Form:       8-K
Filed at:   2026-04-28T23:59:59+00:00
Accession:  0001493152-26-019260
Event type: debt
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud

SharonAI issues $350M 6% Convertible Senior Notes due 2031 for GPU procurement
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- Issued $350M of 6.00% Convertible Senior Notes due 2031, convertible at ~$48.24 per share (20% premium to Nasdaq minimum price).
- Offering led by Oaktree Capital Management with participation from Two Seas Capital and other institutional investors.
- Net proceeds to fund GPU and network procurement and working capital for revenue-generating AI cloud deployments.
- Founders agreed to lock-up shares until March 31, 2027, subject to exceptions.
- Notes guaranteed by subsidiary guarantors; initial conversion rate 20.7292 shares per $1,000 of principal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2068385/000149315226019260/0001493152-26-019260-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2068385/000149315226019260/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-019260

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer