AcquisitionsAug 4, 2026, 05:41 PM
Z Squared Acquires Paradox Data for up to $25M in Preferred Stock
AI Summary
Z Squared Inc. has signed a definitive agreement to acquire 100% of Paradox Data, LLC, expanding its AI infrastructure capabilities. The transaction involves a total consideration of up to $25 million, paid entirely in newly designated Series A Convertible Preferred Stock. An initial $5 million in preferred stock will be issued at closing, with up to an additional $20 million contingent upon Paradox Data achieving defined development milestones related to AI-ready capacity at its Union County Campus in Arkansas.
Key Highlights
- Z Squared Inc. to acquire 100% of Paradox Data, LLC.
- Total consideration up to $25 million in Series A Convertible Preferred Stock.
- Initial payment: $5 million in Series A Preferred Stock at closing.
- Up to $20 million in additional Series A Preferred Stock for milestones.
- Milestones tied to achieving up to 150 MW of AI-ready capacity.
- Paradox Data's assets include an Arkansas data center site with 8.0 MW electric service.
- Series A Preferred Stock convertible at $7.45 per share for initial issuance.
- CTO Jeffery Harris holds an indirect interest in the seller and milestone recipient.