Sharon AI Announces Closing of US$1.6 Billion Strategic Financing

About this update from Sharonai Holdings, Inc.

NEW YORK, June 29, 2026--(BUSINESS WIRE)--SharonAI Holdings Inc. (NASDAQ:SHAZ) and its subsidiaries ("Sharon AI" or "the Company"), a leading Australian Neocloud, today announced the closing of its previously announced, oversubscribed US$1.6 billion private placement financing (the "Transaction"). The Transaction was comprised of i) a private placement of approximately US$900 million, split between 6,719,896 shares of the Company's Class A Ordinary Common Stock and pre-funded warrants to purchase 6,374,823 shares of the Company's Class A Ordinary Common Stock, and ii) a private placement of US$700 million aggregate principal amount of 4.75% Convertible Senior Notes due 2032 to qualified institutional buyers as defined in Rule 144A under the Securities Act of 1933, as amended. The Transaction was anchored by Situational Awareness L.P. and funds managed by Oaktree Capital Management, L.P., along with new and existing institutional and strategic investors. As previously stated, the Company intends to use the proceeds from the offering to support Sharon AI's previously announced six-year strategic compute collaboration with NVIDIA, where the Company intends to deploy one of Australia's largest AI Factories, including up to 40,000 Grace Blackwell GB300 GPUs, as well as broader expansion plans. Goldman Sachs & Co. LLC acted as lead placement agent for this transaction. Lucid Capital Markets also acted as placement agent. Macquarie Capital served as financial advisor. Sheppard Mullin Richter & Hampton LLP served as legal counsel to Sharon AI in connection with the private placement. Additional details regarding the Transaction will be disclosed in a Form 8-K to be filed by Sharon AI with the Securities and Exchange Commission (the "SEC"). This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction. Disclosure Information Sharon AI primarily uses its Investor Relations page (https://sharonai.com/investors/) to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. The Company also notes that, at times, it uses other communication ...

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