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.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

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