SharonAI raises $350M in convertible debt at $48.24/share, 20% premium to market

Filed May 21, 2026 · Period ending May 18, 2026 · ~1 min read

Key Changes

• high

  Issued $350M of 6% convertible senior notes due 2031 to institutional buyers. Notes convert at $48.24/share (20% premium to Nasdaq minimum price), potentially diluting shareholders by up to 8.7M shares, or 11.3M if accrued interest converts.

  Item 1.01 verify on EDGAR →
• medium

  Company can force conversion after 18 months if stock trades above $96.48 (200% of conversion price) for 20 of 30 days and daily volume exceeds $50M. This allows management to eliminate debt if stock performs well.

  Item 1.01: Forced Conversion verify on EDGAR →
• medium

  Noteholders can demand repurchase at par plus interest if company undergoes change of control or acquisition, protecting debt investors but potentially constraining strategic options.

  Item 1.01: Change of Control verify on EDGAR →