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ZONE-News
ZONE-Events
Zone Frontier Approves 1-for-60 Reverse Stock Split
Zone Frontier announced that its board of directors has approved a 1-for-60 reverse stock split of the company's issued and outstanding common stock. The reverse stock split will become effective at 12:01 a.m. Eastern Time on October 30 and the company's common stock is expected to begin trading on a split-adjusted basis on the NYSE American at market open on October 30. The reverse stock split is intended to increase the per-share trading price of the company's common stock to support its continued listing on the NYSE American.
Zone Frontier Sells Cleaning Business to Sanzonate
Zone Frontier announced the sale of its legacy aqueous ozone cleaning products business, including its wholly owned subsidiary CleanCore Global, to Sanzonate Holdings, an entity controlled by Clayton Adams, the company's former CEO and current board member. This legacy business consumed approximately $3M of cash per year, lost $18M in FY26, and required management time and attention that Zone is now directing entirely toward power-enabled compute campuses for AI customers across rural and industrial America. A fairness opinion by Newbridge Securities valued the legacy business at $1.72M. The $3.35M face amount of the note significantly exceeds that valuation. If all earnout milestones are achieved, total potential cash payments to Zone would be approximately $5.6M, before counting the retained equity. Sanzonate issued Zone a $3.35M non-convertible promissory note bearing 6% annual interest, payable in installments of $300K at six months, $850K at twelve months and $2.2M at eighteen months, plus accrued interest. Zone is entitled to up to $2.25M in additional cash payments if Sanzonate completes equity financings at specified pre-money valuations. Zone received a 5% membership interest in Sanzonate at closing. Any future losses by the CleanCore business will be funded by new ownership. Adams recused himself from all Board deliberations and did not participate in the evaluation of the transaction or any negotiations on behalf of the company.
Zone Frontier Subsidiary Signs Long-Term Ground Lease
Zone Frontier announced that a subsidiary has entered into a long-term ground lease covering approximately 4,077 acres in Potter County, Texas. The lease secures the land, water and development rights for Zone's West Texas data center campus being developed in partnership with HST Technologies, the AI infrastructure platform provider behind Cue. Under the lease, Zone may designate between 200 and 800 acres for data center facilities and related infrastructure, and at least 1,800 acres for solar generation, battery storage and supporting infrastructure. The property surrounds Southwestern Public Service Company's existing Potter County 345 kV substation in the Southwest Power Pool region, which the company believes provides the campus with a potential path to grid interconnection alongside the dedicated on-site generation. The lease has an initial term of 30 years, with two 10-year extension options. Base rent for each site area begins only upon the start of construction on that area. The agreement also grants Zone an option to purchase the data center site and includes a long-term water supply agreement, co-terminous with the lease. The site is also in close proximity to two major natural gas pipelines.
Zone Frontier Completes Corporate Name Change
Zone Frontier, formerly CleanCore Solutions, announced the completion of its corporate name change to Zone Frontier. The Company's common stock continues to trade on the NYSE American under the ticker symbol "ZONE." "Zone Frontier represents the company we are building and the opportunity ahead of us," said Tyler Hassen, Chief Executive Officer of Zone Frontier. "As AI continues to reshape the global economy, the availability of land, power and infrastructure is becoming increasingly important. Zone is focused on developing the data center campuses and infrastructure needed to help meet this demand."
CleanCore Solutions Prices Public Offering of 400M Shares, Expected to Raise $100M
CleanCore Solutions announced the pricing of its previously announced public offering of 400M shares of common stock and accompanying warrants to purchase up to 400M shares of common stock. Each share of common stock and accompanying warrant is being offered at a combined public offering price of 25c, for expected gross proceeds of approximately $100M, before deducting placement agent discounts and commissions and offering expenses. The pre-funded warrants have an exercise price of $0.0001 per share. Each accompanying warrant will be immediately exercisable at an exercise price of 25c per share of common stock and will expire five years following the date of issuance. If all accompanying warrants are exercised in full, the company would receive additional gross proceeds of approximately $100M, before deducting applicable expenses. Curvature Securities is acting as the sole placement agent for the offering.
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