Corporate ActionJun 12, 2026, 07:06 AM
SharonAI Issues 7.65M Shares from $97.48M Convertible Note Conversion
AI Summary
SharonAI Holdings Inc. announced the issuance of 7,649,523 shares of its Class A Ordinary Common Stock on June 11, 2026. These shares were issued upon the conversion of approximately $97.48 million in unsecured, redeemable, convertible notes, along with $1.95 million in accrued interest. The conversion occurred at a price of $12.53 per share, as per the Convertible Note Agreement from December 2025. The company plans to register these shares for resale via an S-1 registration statement.
Key Highlights
- SharonAI Holdings Inc. issued 7,649,523 shares of Class A Ordinary Common Stock.
- The shares were issued upon conversion of approximately $97,475,184 in unsecured, redeemable, convertible notes.
- An additional $1,954,845 of accrued and unpaid interest was also converted.
- The conversion price per share was $12.53.
- The conversion was pursuant to a Convertible Note Agreement dated December 19, 2025.
- The Conversion Shares were issued in reliance on exemptions from registration under Section 4(a)(2) and/or Rule 506(b) of Regulation D and/or Regulation S.
- The Company agreed to register the Conversion Shares for resale on an S-1 registration statement.
Price Impact
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