New Era Energy & Digital, Inc. (NASDAQ: NUAI) saw its stock rise 23% following the announcement that it has secured a $290 million senior secured term loan credit facility with Macquarie Group to finance its Texas Critical Data Center flagship project.
The company said the financing was arranged through its subsidiary, Texas Critical Data Centers LLC, and documented in a definitive Term Loan Agreement with the Commodities and Global Markets business of Macquarie Group. The financing package is structured across multiple tranches: a $20 million committed Term Loan A-1, a $30 million Term Loan A-2, a $40 million Term Loan A-3, and a $200 million Delayed Draw Term Loan that is subject to certain conditions.
All Term Loans are scheduled to mature on the three-year anniversary of the closing date. According to the company, proceeds from the Term Loan will be used for general corporate purposes. Specifically, funds will support the acquisition, improvement and equipping of properties for the TCDC project, and may be applied to the potential repayment of existing indebtedness.
As part of the financing, Macquarie will acquire $5 million of New Era common stock at $5.00 per share. The company noted that this per-share price represents a 20% premium to the five-day volume weighted average price based on the April 7, 2026 closing price. In addition, New Era will sell warrants to Macquarie that allow the purchase of up to $5 million of shares. The warrants will carry an exercise price equal to a 20% premium to the five-day volume weighted average price, subject to a floor price of $4.30. The initial tranche of warrants will have an exercise price of $5.00.
Legal advisors on the transaction included Vinson & Elkins L.L.P. for New Era and Latham & Watkins LLP for Macquarie. Northland Capital Markets served as capital markets advisor to the company.
While the announcement provided the financing structure and intended uses of proceeds, it also identified contractual conditions attached to the delayed draw portion of the facility and established a defined repayment timeline through the three-year maturities of the term loans. The equity purchase and warrant issuance to Macquarie were disclosed with explicit pricing mechanics tied to the five-day volume weighted average price as of April 7, 2026.
This financing package advances funding for the Texas Critical Data Center flagship project and represents a combination of debt and equity-linked components provided by Macquarie under the terms described by the company.