SharonAI closes $350M 6% convertible notes due 2031; Oaktree leads; proceeds fund GPU procurement

SharonAI Holdings Inc.

Issued $350M aggregate principal of 6.00% Convertible Senior Notes due May 1, 2031; conversion price ~$48.24/share (20% premium over Nasdaq min).
Initial conversion rate 20.7292 shares/$1,000; maximum 8,706,250 shares issuable (11,292,009 including accrued interest).
Proceeds to fund GPU/network procurement and working capital for previously announced $950M cloud contract with Asia-Pacific tech firm.
Offering led by Oaktree Capital Management Value Opportunities strategy; Lucid Capital Markets acted as sole placement agent.

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Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SharonAI Holdings Inc. entered into 6.00% Convertible Senior Notes due 2031 and Indenture with certain qualified institutional buyers valued at $350 million aggregate principal amount (effective 2026-04-26).

Action: entry
Agreement: notes offering
Counterparty: certain qualified institutional buyers
Value: $350 million aggregate principal amount
Effective: 2026-04-26

Exact text from the filing

On April 28, 2026, SharonAI Holdings Inc. (the “Company”) filed a Current Report on Form 8-K disclosing the entry into a Securities Purchase Agreement (the “Purchase Agreement”) dated April 26, 2026 with certain qualified institutional buyers relating to the private offering (the “Offering”) of $350 million aggregate principal amount of the Company’s 6.00% Convertible Senior Notes due 2031 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SharonAI Holdings Inc. entered into Indenture with U.S. Bank Trust Company, National Association valued at $350 million aggregate principal amount of 6.00% Convertible Senior Notes due 2031 (effective 2026-05-18).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $350 million aggregate principal amount of 6.00% Convertible Senior Notes due 2031
Effective: 2026-05-18

Exact text from the filing

On May 18, 2026, the Company issued the Notes in the Offering certain qualified institutional buyers (the “Purchasers”) who executed the Purchase Agreement pursuant to the terms and conditions of an Indenture (the “Indenture”) dated May 18, 2026 among the Company, certain of the Company’s material subsidiaries named in the Indenture (the Subsidiary Guarantors”), and U.S. Bank Trust Company, National Association, as trustee (in such capacity, the “Trustee”).

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272 material agreements filed in the last 30 days. Browse all material agreements →

SharonAI Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001493152-26-024865

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