Valor Energy Inc. (VAI) News & EventsVAIValor Energy Inc.

Valor Energy Completes Private Placement of 2,145,923 Shares at $2.33 Each

Valor Energy announced that on October 19, it entered into a securities purchase agreement with certain investors for a private placement of 2,145,923 shares of the company's common stock at a purchase price of $2.33 per share, for aggregate gross proceeds of approximately $5M, before deducting offering expenses.

Valor Energy Acquires 18MW Data Center in Ohio

Valor Energy announced that it has entered into an agreement to acquire all of the outstanding equity interests of the company that holds an 18MW operational computing center in Youngstown, Ohio. The acquisition remains subject to due diligence and other closing conditions described below, and there can be no assurance that it will be completed on the terms described or at all. The Youngstown Project is located at 1911 Logan Avenue, Youngstown, Mahoning County, Ohio, and includes a facility of approximately 30,888 square feet. The site has approximately 18 megavolt-amperes of apparent power capacity under an existing 23kV utility interconnection with Ohio Edison, which the Company believes is already approved and energized. Construction of the existing computing center is complete; however, the Company's planned conversion of the site into an AI data center will require additional design, construction, equipment and permitting work. The transaction is structured as an acquisition of 100% of the equity interests of the entity holding the Youngstown Project, for an aggregate purchase price of $3.6M subject to adjustment as provided in the agreement. The target company's existing site, power arrangements and related contracts are expected to remain in place under the same entity following closing. Closing is subject to a due diligence period of thirty business days from the agreement's effective date and numerous other closing conditions, including third-party and regulatory consents, and is expected to occur no later than the 90th business day following the effective date, if at all. Valor Energy has the unilateral right to terminate the agreement under specified circumstances during due diligence, including if it determines the target company provided false information, in which case its good-faith deposit would be refunded.

Valor Energy Files $500M Mixed Securities Shelf

Valor Energy files $500M mixed securities shelf