other material
confidence high
sentiment neutral
materiality 0.75
Edgemode forms JV to develop 3,550 MW data centers; grants 400M share options at $0.02
Edgemode, Inc.
- Edgemode owns 50.1% of JV; BAIF 49.9%; total capacity 3,550 MW across 8 Spain/Panama projects.
- Edgemode commits minimum $11.15M funding: $3.5M initial plus $2.4M for add-on projects in monthly installments.
- Grants BAIF options for 250M + 150M common shares at $0.02/share, fully vested and exercisable.
- Jose Mora (BAIF CEO) appointed to manage data center development and serves as CEO of JV entity.
- Failure to meet $11.15M funding obligations allows BAIF to foreclose on pro rata SPV equity interests.