Z Squared Signs Dilutive Financing Deal and LOI to Acquire 42 MW North Carolina Data Center Portfolio

A British Virgin Islands company, entered into a financing agreement dated June 4, 2026. The agreement allows the company to fund acquisitions as they close and to stage conversion capital site by site as operational milestones are met. Each draw under the agreement is a separate, independent forward purchase initiated by Z Squared on its own timing.

Draws are priced at 95 percent of the volume-weighted average price over a five-day pricing window unique to that draw and are subject to a nine-month lock-up by the purchaser. Z Squared retains full control over whether, when, and how much to draw under the agreement. The company has virtually no debt on its balance sheet as of June 4, 2026.

Z Squared has also signed a binding letter of intent to acquire Skycore Digital. Skycore Digital currently owns three active North Carolina sites powered by Duke Energy that provide up to 42 megawatts of total potential capacity. Of the 42 megawatts, 18 megawatts is presently available under existing Duke Energy Letters of Authorization.

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