EdgeMode Secures $4 Million for Expanding Digital Infrastructure

EdgeMode Inc. Announces Major Financing Move
EdgeMode, Inc. (EDGM), a leading provider in high-performance and sustainable computing infrastructure, is making significant strides by signing a non-binding term sheet that outlines a potential $4 million convertible note financing. This initiative is primed to propel their infrastructure development and support the company’s strategic growth plan.
Supporting Infrastructure and Strategic Goals
The capital raised through the convertible note is expected to facilitate the acquisition of key assets, particularly the purchase of Blackberry AIF. Additionally, these funds will aid in the development of newly acquired digital infrastructure sites in Sweden. This strategic acquisition could potentially bolster EdgeMode’s asset portfolio by approximately $140 million, showcasing a robust move toward enhancing their market presence.
Leadership Insights on the Strategic Financing
Simon Wajcenberg, Chief Financial Officer of EdgeMode, expressed optimism about this financing proposal, highlighting it as an important step in pursuing the company’s long-term vision. He noted that with the acquisition of high-potential infrastructure assets and the strategic development of power connections at these sites, EdgeMode is well-positioned to significantly enhance revenue potential and shareholder value.
An Overview of Convertible Note Terms
According to the proposed conditions, the convertible note will carry an 8% annual interest rate with a maturity period of 12 months. Investors can convert their notes 180 days post-closing, at a 35% discount based on the lowest closing bid prices from preceding trading days, though capped at a 4.99% ownership. Moreover, EdgeMode retains the option to prepay the note during specified periods at a slight premium.
Non-Binding Nature of the Term Sheet
It’s crucial to mention that the signed term sheet is non-binding. This means that while there is intent, there is no guarantee that ultimate agreements will be finalized or that the financing will successfully close. Stakeholders are encouraged to remain informed as the situation progresses.
Understanding EdgeMode, Inc.
EdgeMode, Inc. specializes in creating high-performance computing (HPC) data centers dedicated to delivering energy-efficient colocation solutions. Positioned to support advanced sectors such as artificial intelligence (AI) and cloud computing, EdgeMode is at the forefront of engineering a new line of scalable digital infrastructure. Their flagship campus in Marviken, Sweden stands as a testament to their commitment to excellence in this industry.
Contact Information
For further inquiries, Charlie Faulkner, Chief Executive Officer of EdgeMode Inc., is reachable at charlie@edgemode.io.
Investor Relations Contact
Jeff Ramson, Chief Executive Officer of PCG Advisory, Inc., is available for investor relations questions at jramson@pcgadvisory.com.
Frequently Asked Questions
What is EdgeMode, Inc. known for?
EdgeMode, Inc. is recognized for its specialized services in high-performance computing data centers and energy-efficient infrastructure solutions.
What is the purpose of the $4 million convertible note?
The funds from the convertible note are intended to support the acquisition of assets and the development of digital infrastructure sites.
How does the convertible note work?
The note bears an 8% interest rate and can be converted to equity under specific conditions after a certain period.
Is the term sheet binding?
No, the term sheet is non-binding and does not guarantee that final agreements will be reached.
Who are the main contacts at EdgeMode?
Charlie Faulkner and Jeff Ramson are the key contacts for general inquiries and investor relations respectively.
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