New Era Energy & Digital Inc ( NUAI ) shares are volatile in Wednesday’s after-hours session after the company announced a series of financing moves.

New Era Energy & Digital ( NUAI ) stock is among today’s top performers. What’s driving NUAI stock higher?

New Era Energy Enters Into Term Loan Agreement

New Era Energy & Digital ( NUAI ), through its subsidiary Texas Critical Data Centers LLC, entered into a definitive term loan agreement establishing a facility of up to $290 million with Macquarie Group.

The proceeds of the term loan will be used for general corporate purposes, including the funding of acquisitions and improvements and the equipping of properties for the Texas Critical Data Centers project.

New Era Energy shares surged on the announcement, climbing over 20% in extended trading before pulling back as the company subsequently announced a public offering.

The size and terms of the offering were not disclosed, but New Era Energy said it plans to use any net proceeds to repay all outstanding borrowings under a senior secured convertible promissory note payable to SharonAI.

NUAI Shares Bounce Around After The Close

NUAI Price Action: New Era Energy shares hit $5.20 in extended trading before the offering was announced. Although off the highs, the stock was still up 2.66% in after-hours Wednesday, trading at $4.14 at the time of publication, according to Benzinga Pro.

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