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Shares of New Era Energy & Digital, Inc. (NUAI) fell 11% in pre-market trading on Thursday as investor sentiment weakened after the company priced its $100 million public offering.
New Era Energy & Digital said it plans to raise around $100 million by offering 29.85 million shares of common stock at $3.35 per share, representing an almost 20% discount to the stock’s Wednesday closing price of $4.14.
The company said it plans to use the net proceeds primarily to repay all outstanding borrowings under a senior-secured convertible promissory note owed to SharonAI, with the remaining funds allocated to general corporate purposes.
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