NEW YORK, June 29, 2026, 18:07 EDT
- SharonAI dropped 1.28% to finish at $81.00 after closing a $1.6 billion financing.
- The new equity and pre-funded warrants make up around 79% of the pre-deal Class A share count, according to a Reuters-style calculation using company and SEC figures.
- A Situational Awareness filing listed 5.4 million shares as beneficially owned, or 19.9%, including shares and warrants.
- Index data vendors on Monday showed SharonAI was added to the Russell 2000 and other Russell growth and microcap benchmarks.
SharonAI Holdings Inc NASDAQ:SHAZ finished down Monday. The AI cloud firm secured a $1.6 billion private raise, but investors looked past that as the deal terms hint at a much bigger common-equivalent share count before Nvidia-related income starts coming in.
The shares dropped 1.28% to close at $81.00 on Nasdaq, with trading between $76.40 and $86.0878, according to WSJ data. Volume reached 1.49 million, more than double the 65-day average of 646,366. After hours, WSJ put the quote at $88.00, up 8.64%, at 6:07 p.m.
| Trading line | Monday figure |
|---|---|
| Close | $81.00 |
| Day change | -1.28% |
| Intraday range | $76.40-$86.0878 |
| Volume | 1,494,046 |
| 65-day average volume | 646,366 |
| After-hours quote at 18:07 EDT | $88.00 |
The big detail was the share count. SharonAI said the raise had about $900 million, split between 6,719,896 Class A ordinary shares and pre-funded warrants for 6,374,823 shares. It also has $700 million in 4.75% convertible senior notes maturing 2032. Situational Awareness L.P. and funds run by Oaktree Capital Management L.P. anchored the deal.
The shares and warrants total 13,094,719 common-equivalent shares before including the convertible notes. That’s about 78.8% of the pre-deal base compared to the 16,607,910 Class A shares listed as outstanding on May 13 in a Monday SEC filing.
| Deal math | Figure |
|---|---|
| Class A share count from 13G filing | 16,607,910 |
| Class A shares sold in this raise | 6,719,896 |
| Pre-funded warrants issued | 6,374,823 |
| Total new common-equivalent shares, not including notes | 13,094,719 |
| New common-equivalent shares as % of base pre-deal | 78.8% |
| Price per common/pre-funded warrant | about $68.73 |
| Monday’s close over deal price | about 17.9% above |
This is important for investors since SharonAI shares trade based on AI buildout plans, not on actual earnings now. Issuing new stock pays for expansion, but it also affects each share’s stake. The $68.73 offer was around 15% under Monday’s close, though at close buyers’ holdings were still in the green on paper.
Situational Awareness LP and affiliates reported shared voting and dispositive power over 5,404,540 Class A shares, or 19.9% of the class, in a Schedule 13G filed Monday. The position includes 1,696,127 Class A shares plus warrants for 6,374,823 more, but the filing notes a 19.99% beneficial ownership cap.
The company said it will use the funds to back its six-year compute deal with NVIDIA Corp NASDAQ:NVDA. SharonAI plans to bring as many as 40,000 Grace Blackwell GB300 GPUs to Australia under the agreement.
Chief Executive James Manning said in an earlier financing update that GPU compute demand is “significantly outpacing supply.” Business Wire Manning also told The Australian last week: “We launched it on Friday in the US, and we closed it essentially on Monday.” The Australian
The financing wrapped up on the first trading day after the Russell index rebalancing. MarketScreener had SharonAI marked as added on June 29 to the Russell 2000 Index, Russell Microcap Index, Russell 2000 Growth Benchmark, Russell 3000E Growth Benchmark and Russell Microcap Growth Benchmark.
| Russell 2000 Index got a new addition Monday | MarketScreener/CI |
|---|---|
| Russell Microcap Index had an addition | MarketScreener/CI |
| Russell 2000 Growth Benchmark also added a name | MarketScreener/CI |
| Russell 3000E Growth Benchmark was updated with a new addition | MarketScreener/CI |
| Russell Microcap Growth Benchmark got an addition | MarketScreener/CI |
Russell index changes can push benchmark funds to buy or sell shares on set days. Reuters said Friday’s rebalancing trade was pegged at about $150 billion. Stephens analyst Melissa Roberts called it a “key liquidity day.” Jefferies analyst Steven DeSanctis called it a “really massive trade.” Reuters
SharonAI faces a bumpy tape in the short term. Passive index money is one force, while a big new common-style financing sits on the other side. Plus, there’s now a holder at nearly 20%, making it tougher to read the real free float just from the share count.
SharonAI said Goldman Sachs & Co. LLC led the placement, while Lucid Capital Markets was another placement agent and Macquarie Capital was financial adviser. The company plans to provide more details in a Form 8-K filing.
