We advised the placement agent on the transaction

Davis Polk advised the placement agent in connection with SharonAI’s $1.6 billion private placement financing. The transaction consisted of a private placement of approximately $900 million in aggregate amount of 6,719,896 shares of the company’s Class A ordinary common stock and pre-funded warrants to purchase up to 6,374,823 shares of the company’s Class A ordinary common stock and a private placement of $700 million aggregate principal amount of the company’s 4.75% convertible senior notes due 2032.

SharonAI, a leading Australian AI Cloud, is a high-performance computing company focused on AI and Cloud GPU/CPU compute infrastructure. Its AI Cloud platform and compute infrastructure is accelerating the build of AI factories and sovereign AI solutions, powering the next wave of accelerated computing adoption.

The Davis Polk capital markets team included partner Roshni Banker Cariello and associates Sakiko Nishida and Madeline Y. Owens. Counsel Mikaela Dealissia provided intellectual property advice. All members of the Davis Polk team are based in the New York office.

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