AIB Data Centers Inc. has entered into and completed the acquisition of two interdependent agreements to purchase real property in Texas for the development of data center infrastructure. The transaction, valued at approximately $17,225,400, was executed on September 4, 2026, and closed on September 11, 2026.
The acquisition consists of two linked components. The first component involves a Purchase and Sale Agreement (PSA) with Seller A, under which the Company acquired approximately 5.00 acres of real property and related interests for a cash purchase price of $8,250,000. This property, known as Property A, is served by an existing Facilities Extension Agreement providing 15 MW of primary electric service.
The second component involves a Membership Interest Purchase Agreement (MIPA) with Seller B. Under this agreement, the Company acquired 100% of the interests in a Delaware limited liability company that holds the rights to acquire fee simple title to approximately 24.385 acres of adjacent property, known as Property B. The purchase price for the MIPA is $8,975,400. Of this amount, $2,975,400 was paid at closing, with the remaining $6,000,000 deferred until the date the Utility Company places the Property B facilities in service (the Release Date).
To secure the deferred payment, the Company caused JPMorgan Chase Bank, N.A. to issue an irrevocable standby letter of credit in the amount of $6,000,000 for the benefit of Seller B. Additionally, the Company issued a separate irrevocable standby letter of credit in the amount of $1,754,640 for the benefit of the Utility Company to secure performance obligations under the Facilities Extension Agreement for Property B. Both letters of credit expire on August 30, 2027, and renew automatically for successive twelve-month periods.
