Connect with us

Technology

Z Squared, Inc. Enters $50 Million Committed Equity Forward Purchase Agreement to Support AI Infrastructure Buildout

Published

2 months ago

on

Agreement Provides Committed Equity Capital to Execute Phase 1 Acquire and Convert Pipeline

FT. LAUDERDALE, Fla., June 4, 2026 /PRNewswire/ — Z Squared, Inc. (Nasdaq: ZSQR) (the “Company”), a digital infrastructure company expanding into AI infrastructure, today announced the Company has entered into a $50 million committed equity forward purchase agreement with LucentHash / Data Part Capital, a trading name of Translucent Matter Inc., a British Virgin Islands company (the “Agreement”). The Agreement gives the Company the ability to fund acquisitions as they close and to stage conversion capital site by site as operational milestones are met, advancing the Company toward its Phase 1 destination of 100 megawatts of AI-ready capacity across multiple U.S. sites.

Each draw under the agreement is a separate, independent forward purchase, initiated by the Company on its own timing and priced at 95% of the volume-weighted average price over a five-day pricing window unique to that draw and subject to a 9-month lock-up by the purchaser. The Company retains full control over whether, when, and how much to draw. Capital is accessed in step with execution, not ahead of it.

The agreement is structured to align the parties’ long-term goals and to protect existing shareholders of the Company. Accordingly, shares issued under the Agreement are subject to a 9-month lock-up period, and LucentHash / Data Part Capital is contractually prohibited from short-selling or otherwise hedging ZSQR common stock.

“Z Squared is moving into a significant AI infrastructure opportunity from a position of strength, with virtually no debt on the balance sheet,” said David Halabu, Chief Executive Officer of Z Squared. “We believe this agreement strengthens that position with flexible equity capital that can be matched to acquisitions and site-level conversion milestones without adding leverage. We intend to move quickly, but with discipline, as we build toward our Phase 1 objective.”

Z Squared enters this financing with its Phase 1 strategy already in motion. The Company has signed a binding letter of intent to acquire Skycore Digital, which currently owns three active North Carolina sites powered by Duke Energy, providing up to 42 megawatts of total potential capacity (of which 18 megawatts is presently available under existing Duke Energy Letters of Authorization) — the first step toward our 100 MW Phase 1 goal. The Company is actively evaluating additional opportunities on the same criteria applied to Skycore: energized, grid-connected sites where conversion to AI-ready capacity can be executed on the timeline customers actually need, without the multi-year delays associated with greenfield development.

About Z Squared, Inc.

Z Squared, Inc. (Nasdaq: ZSQR) is a computing infrastructure company operating advanced computing equipment and expanding into AI infrastructure. The Company’s strategy is built on three principles: lead with power by acquiring operating sites where power is already flowing; build for AI workloads by converting that capacity into AI-ready colocation where the customer brings the compute and runs what they need; and scale with discipline by deploying conversion capital site by site, against signed contracts and operational readiness. Z Squared listed on the Nasdaq Global Market in April 2026.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements may be identified by words such as “believes,” “expects,” “intends,” “plans,” “anticipates,” “aims,” “goal,” “objective,” “potential,” “estimates,” “projects,” “may,” “should,” “will,” “would,” “could,” and similar expressions, although not all forward-looking statements contain such identifying words. Forward-looking statements in this press release include, without limitation, statements regarding: the Company’s plans and ability to draw on the Agreement and the timing and amounts of any draws thereunder; the anticipated use of proceeds from draws to fund acquisitions and site-level conversion capital; the proposed acquisition of Skycore Digital, including the anticipated capacity, conversion timeline, and strategic fit of those sites; the Company’s Phase 1 strategy and its objective of 100 megawatts of AI-ready capacity across multiple U.S. sites; the Company’s evaluation of additional acquisition targets; the Company’s ability to convert acquired sites to AI-ready colocation capacity and attract customers therefor; expected benefits to existing shareholders from the lockup and no-hedging provisions of the agreement; and any other statements regarding the Company’s future operations, financial condition, growth prospects, or strategic plans.

These forward-looking statements are based on management’s current expectations and assumptions and are subject to significant risks, uncertainties, and other factors, many of which are outside the Company’s control, that could cause actual results to differ materially from those expressed or implied. Such risks and uncertainties include, among others: the Company’s ability to satisfy all conditions required to make draws under the forward purchase agreement and to access capital thereunder on acceptable terms or at all, the Company’s ability to achieve its Phase 1 100 MW objective on the contemplated timeline, or at all, including the risk that acquisitions, joint ventures, financing, conversion capital deployment, customer contracting, or site development do not progress as anticipated; the Company’s ability to execute its acquire-and-convert strategy, including its ability to identify suitable energized sites, structure transactions on acceptable terms, and convert acquired sites to AI-ready capacity on the truncated timelines management contemplates; the Company’s ability to negotiate and execute definitive transaction documentation for the Skycore Digital acquisition, satisfy or obtain waivers of conditions to closing, finance the transaction, and consummate the acquisition on the timeline contemplated by the binding letter of intent or at all; the Company’s ability to realize the anticipated benefits of the proposed Skycore Digital transaction, including the projected megawatt capacity and the conversion of the 18 MW available under existing Duke Energy Letters of Authorization into operational capacity; the Company’s ability to execute its post-listing business strategy and to integrate operations and personnel following the recently completed business combination; the Company’s ability to develop the technical, operational, financial, and commercial capabilities required to participate in the AI infrastructure, data center, and high-performance compute hosting markets, none of which currently generate revenue for the Company; whether expected demand from NeoCloud operators and other AI infrastructure customers for production inference capacity materializes on the timeline or in the magnitude management anticipates; the Company’s current dependence on cryptocurrency mining and the volatility of cryptocurrency markets, mining economics, network difficulty, and digital asset values, including with respect to Dogecoin; changes in power costs, energy regulation, grid conditions, interconnection queue dynamics, curtailment programs, and seasonal electricity rate fluctuations; the availability, pricing, and technological obsolescence of mining and computing hardware; the Company’s ability to maintain and expand its facility footprint and respond to localized regulatory shifts or grid instability; the continued service of the Company’s senior management, including its Chief Executive Officer; competition in the computing infrastructure, cryptocurrency mining, AI infrastructure, and digital asset industries; market, economic, and capital-markets conditions, including the Company’s ability to access additional capital on acceptable terms; and regulatory developments affecting cryptocurrency mining, digital assets, power consumption, and data-center operations. Additional risks and uncertainties are described under the heading “Risk Factors” in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on April 30, 2026 reporting the closing of the business combination, the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, and the Company’s subsequent filings with the Securities and Exchange Commission, each of which is available at www.sec.gov.

Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances after the date of this press release, whether as a result of new information, future events, or otherwise.

Investor Relations Contact: ZSQR@mzgroup.us

View original content:https://www.prnewswire.com/news-releases/z-squared-inc-enters-50-million-committed-equity-forward-purchase-agreement-to-support-ai-infrastructure-buildout-302791528.html

SOURCE Z Squared Inc.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

2026 World Internet Conference Digital Silk Road Development Forum Opens in Xi’an, Shaanxi Province

Published

58 minutes ago

on

July 26, 2026

By

XI’AN, China, July 26, 2026 /PRNewswire/ — A news report from CRI Online:

On July 22, the 2026 World Internet Conference (WIC) Digital Silk Road Development Forum officially opened in Xi’an, Shaanxi Province. Hosted by the WIC and organized by the Shaanxi Provincial Government, the forum was held under the theme “Pooling Intelligence on the Silk Road, Embarking on a Digital Future — Jointly Building a Community with a Shared Future in Cyberspace”. Approximately 800 participants from more than 50 countries and regions, as well as seven international organizations, attended the event.

Mayra Arevich Marín, Minister of Communications of Cuba; Faqir Mahbub Anam, Minister of Posts, Telecommunication & Information Technology and Minister of Science and Technology of Bangladesh; Samba Diouf, Minister of Telecommunications and Digital Affairs of Senegal; Wang Binying, Deputy Director General of the World Intellectual Property Organization (WIPO); John Higgins, President of the International AI Governance Association (IAGA); and Wang Xingxing, Founder and CEO of Unitree Robotics, attended the opening ceremony and delivered speeches.

Following the opening ceremony, a ministerial meeting was held. Thematic forums were convened focusing on Silk Road e-commerce cooperation and development, collaborative innovation and development of AI agents, digital and intelligent health, and the preservation and transmission of cultural heritage in the digital intelligence era. These discussions aimed to help Belt and Road partner countries strengthen consensus, deepen cooperation, and seize new opportunities brought by digital and intelligent development. During the forum, the World Internet Conference Cultural Heritage Digitalization Case Collection (2026) was released. A series of capacity-building activities under the WIC Digital & AI Academy were also held, including a capacity building program on AI-driven digital trade, a salon on “Copyright Empowerment in Cultural Heritage Digitalization”, and a field study at a digital port.

View original content to download multimedia:https://www.prnewswire.com/news-releases/2026-world-internet-conference-digital-silk-road-development-forum-opens-in-xian-shaanxi-province-302834725.html

SOURCE CRI Online

Continue Reading

Technology

Tesla Owns Nearly 1 in 5 AI Answers About EVs. New 5W Index Ranks the Top 25 EV Brands by AI Citation Share.

Published

10 hours ago

on

July 25, 2026

By

EV charging networks — Electrify America, EVgo, ChargePoint — are nearly invisible inside AI answers despite operating the infrastructure the entire category depends on.

MIAMI, July 25, 2026 /PRNewswire/ — 5W AI Communications, the AI Communications Firm, today released the 5W AI Visibility Index — EV, ranking the top 25 EV brands by modeled AI citation share across ChatGPT, Claude, Perplexity, Gemini, and Google AI Overviews. Tesla anchors the category at 18.4% — more than the next three brands combined. Rivian is second at 8.2%. Ford is third at 6.4%.

The Index is Volume 07 in 5W’s 2026 Consumer AI Visibility Index series. The full report is available at https://www.5wpr.com/research/ev-ai-visibility-index/.

More than a third of U.S. consumers now begin product research with an AI engine — not Google. For the EV category — where purchase consideration windows stretch six to twelve months and buyers cross-reference range, charging, ownership cost, and long-term reliability across dozens of sources — the answers the engines return are shaping the shortlist before a buyer walks into a dealership.

The Findings

Tesla dominates at 18.4% citation share — cited on virtually every consumer EV query across all five engines. Brand, product, and CEO overlap produce a citation profile no peer can match.Rivian (8.2%) is the dominant adventure-EV authority. The R1T and R1S anchor truck and SUV electric citation.Ford (6.4%) leads legacy automakers. The F-150 Lightning owns EV-truck queries; the Mach-E anchors EV-SUV comparisons.Lucid (4.8%) and Hyundai Ioniq (4.4%) complete the Tier 1 leaders. The Ioniq 5 and Ioniq 6 over-index against U.S. brand recognition.GM sits at #6 with 3.8% — despite scale — because Bolt, Lyriq, and Hummer EV are cited separately rather than as one GM-EV narrative. Ford consolidated its story. GM did not.Toyota (#17) and Honda (#18) are the two largest legacy automakers furthest behind in EV citation. The bZ4X, Solterra, and Prologue cite at rates far below what brand recognition would predict.EV charging networks are absent from the top 25. Electrify America, EVgo, and ChargePoint operate the infrastructure the entire category depends on — and have not built consumer-facing brand citation to match. The category is open.

“Every EV buyer starts inside a chatbox now. Tesla owns nearly one in five answers. The next three brands combined don’t match it. That’s a citation moat measured in AI — not TV budgets, not showroom count,” said Ronn Torossian, Founder and Chairman, 5W AI Communications. “GM is bigger than Rivian by every commercial metric and half its size in the answer. That gap costs sales. The charging networks are the biggest miss in the category — whoever builds the dominant ‘where should I charge’ answer anchors a multi-decade growth curve. Right now, none of them own it.”

The Five Engines Do Not Return Identical Answers

ChatGPT: Tesla, Rivian, Lucid, Ford, Hyundai dominate. Conservative and brand-anchored.Claude: Recurrent and CleanTechnica over-index. Data-source preference. Lighter on enthusiast brands.Perplexity: Reddit EV subreddits dominant. Out of Spec YouTube data heavily cited. Freshness-favored.Google AI Overviews: Tesla, InsideEVs, Edmunds, Kelley Blue Book dominate. Closest to a SERP-mirror.Gemini: YouTube EV creators dominate — Out of Spec, Munro Live, MKBHD at the highest rates.

Engine-aware strategy matters. A brand absent from one engine but present in another needs a different program than a brand absent across the board.

Methodology
Modeled directional estimates derived from publicly available data, observed retrieval patterns, structural signals, and the corresponding Everything-PR Citation Share Study — EV (Issue No. 07). Twenty-five brands, five engines, sixty-plus consumer-prompt query patterns. Not the output of logged query runs across millions of prompts. Intended as a strategic framework — not a definitive search-engine measurement.

The dominant outlets shaping EV citation are InsideEVs, Electrek, Recurrent, Edmunds EV, Car and Driver EV, CleanTechnica, and the Reddit-and-YouTube creator layer. Brand citation share is built primarily through presence inside that specific outlet set — and through Recurrent battery-data partnership for used-EV citation.

About 5W AI Communications
5W is the AI Communications Firm, building brand authority across the platforms where decisions now happen — ChatGPT, Claude, Perplexity, Gemini, and Google AI Overviews — alongside earned media, digital, and influencer channels. 5W combines public relations, digital marketing, Generative Engine Optimization (GEO), and proprietary AI visibility research to help clients measure and grow their presence in AI-driven buyer research. Founded in 2003, 5W is recognized as a Top U.S. PR Agency by O’Dwyer’s, named Agency of the Year in the American Business Awards®, honored as a 2026 Top Place to Work in Communications by Ragan, and named to Digiday’s WorkLife Employer of the Year list. 5W serves clients across B2C sectors — Beauty & Fashion, Consumer Brands, Entertainment, Food & Beverage, Health & Wellness, Travel & Hospitality, Technology, and Nonprofit — and B2B specialties including Corporate Communications, Reputation Management, Public Affairs, Crisis Communications, and Digital Marketing across Social, Influencer, Paid Media, GEO, and SEO. Learn more at 5wpr.com.

Media Contact
press@5wpr.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/tesla-owns-nearly-1-in-5-ai-answers-about-evs-new-5w-index-ranks-the-top-25-ev-brands-by-ai-citation-share-302834703.html

SOURCE 5W Public Relations

Continue Reading

Technology

TECNO Unveiled as Title Sponsor of The SAFF Championship Bangladesh 2026, Bringing AI Innovation to South Asian Football

Published

14 hours ago

on

July 25, 2026

By

As Official Title Sponsor, TECNO joins hands with SAFF to inspire the next generation through football, innovation, and meaningful fan experiences.

DHAKA, Bangladesh, July 25, 2026 /PRNewswire/ — TECNO, an AI-driven innovative technology brand, officially announced its title sponsorship of the SAFF Championship Bangladesh 2026, South Asia’s premier international football tournament, during the tournament’s official launch ceremony in Dhaka.

Scheduled to take place from 4–17 November 2026, the championship will bring together South Asia’s leading national teams, celebrating the region’s passion for football while strengthening friendship, sporting excellence, and regional unity.

The partnership marks another milestone in TECNO’s global football journey while reinforcing the brand’s long-term commitment to South Asia—one of its most important strategic markets. Guided by its brand spirit, “Stop At Nothing,” TECNO believes football embodies the same values that define the brand: ambition, resilience, innovation, and the courage to pursue every dream.

A New Chapter for South Asian Football

The title sponsorship was officially announced during the SAFF Championship Bangladesh 2026 Official Launch Press Conference held in Dhaka. The event brought together representatives from the South Asian Football Federation (SAFF), the Bangladesh Football Federation (BFF), TECNO’s global and Bangladesh leadership teams, SAFF Member Associations, national team representatives, members of the diplomatic community, media, and digital creators to celebrate the official launch of the championship and TECNO’s role as its Title Sponsor.

Mr. Purushottam Kattel, General Secretary of SAFF, said: “The SAFF Championship represents the highest stage of football in South Asia, bringing together our Member Associations through competition, friendship, and a shared passion for the game. Today, as we unveil the identity of the SAFF Championship Bangladesh 2026, we are delighted to welcome TECNO as our Title Sponsor. This partnership reflects a shared commitment to elevating football across the region, and together we look forward to delivering a championship that inspires millions of supporters and creates lasting memories for South Asian football.”

Following the official logo unveiling ceremony, SAFF and TECNO exchanged the Title Sponsorship Agreement, formally launching their collaboration for the SAFF Championship Bangladesh 2026 and reaffirming their shared commitment to delivering an outstanding football experience for fans across South Asia.

A Shared Vision for Football

Delivering a recorded message during the ceremony, Guo Lei, General Manager of TECNO, reaffirmed the brand’s belief that football is a powerful platform for inspiring young people, connecting communities, and bringing innovation closer to fans.

“South Asia is home to one of the world’s youngest and most passionate football communities. Football has the unique power to bring people together beyond borders and cultures. We are proud to continue TECNO’s football journey through the SAFF Championship Bangladesh 2026 and look forward to working with SAFF to create unforgettable experiences for millions of football fans across the region.”

Speaking on behalf of TECNO Bangladesh, Rezwanul Hoque, CEO of Ismartu Technology BD Limited, said: “Football has become an important part of TECNO’s global journey because it reflects the values we believe in: passion, resilience, and the courage to dream bigger. Following our partnership with the Bangladesh Football Federation during the AFC Asian Cup Qualifiers, we are honoured to continue that journey as the Title Sponsor of the SAFF Championship Bangladesh 2026. Guided by our brand spirit, ‘Stop At Nothing,’ we look forward to working with SAFF and BFF to create a championship that inspires players, unites communities, and leaves a lasting legacy for football across South Asia.”

Welcoming the championship to Bangladesh, Mr. Fahad Karim, Vice President of the Bangladesh Football Federation (BFF), highlighted Bangladesh’s role as the host nation and officially marked the beginning of the journey toward the championship this November.

“Hosting the SAFF Championship 2026 is a proud moment for Bangladesh and an important milestone for football in our country. Today marks the beginning of our journey toward November, and we look forward to welcoming our fellow South Asian nations to Bangladesh for a championship that celebrates football, friendship, and regional unity. We are delighted to welcome TECNO as the Title Sponsor, and together with SAFF, our Member Associations, and our partners, we look forward to making this a memorable tournament for players, supporters, and the entire South Asian football community.”

TECNO’s Global Football Journey Continues

Football has been at the heart of TECNO’s global brand journey for nearly a decade. Through partnerships with Manchester City Football Club, the CAF Africa Cup of Nations, and the AFC Club Competitions, TECNO has consistently used football as a platform to inspire young people, connect communities, and celebrate the power of sport.

In Bangladesh, TECNO strengthened that commitment through its title sponsorship of the AFC Asian Cup Qualifiers in partnership with the Bangladesh Football Federation. The overwhelming passion shown by Bangladeshi supporters reaffirmed the country’s vibrant football culture and inspired TECNO to deepen its engagement with the sport.

The SAFF Championship Bangladesh 2026 represents the next chapter in TECNO’s football journey, reinforcing the brand’s commitment to South Asia and its rapidly growing community of young football fans.

Growing Together with Bangladesh

Bangladesh continues to be one of TECNO’s most important strategic markets. Alongside its growing smartphone business, the brand is expanding its AI ecosystem and strengthening long-term investments in retail, innovation, and local partnerships—reflecting its confidence in the country’s digital future and youthful consumer base.

Beyond technology, TECNO remains committed to empowering the next generation by supporting platforms that encourage ambition, creativity, and meaningful human connection.

Football Meets AI Innovation

Throughout the championship, TECNO plans to showcase AI-powered experiences designed to bring fans closer to the game. Powered by Ella, TECNO’s AI assistant, these experiences are intended to demonstrate how intelligent technology can enrich football engagement through interactive match information, smarter fan interactions, and immersive digital experiences.

By combining the emotional power of football with accessible AI innovation, TECNO and SAFF share a common vision of inspiring young people, strengthening communities, and creating richer experiences for football fans across South Asia.

As the countdown to November 2026 begins, TECNO, SAFF, and the Bangladesh Football Federation share a common ambition—to deliver a championship that celebrates the passion of South Asian football while inspiring the next generation through innovation, partnership, and the enduring spirit of “Stop At Nothing.”

Photo – https://mma.prnewswire.com/media/3007765/image1.jpg

Photo – https://mma.prnewswire.com/media/3007766/image2.jpg

Logo – https://mma.prnewswire.com/media/2724870/TECNO_Logo.jpg

View original content:https://www.prnewswire.com/in/news-releases/tecno-unveiled-as-title-sponsor-of-the-saff-championship-bangladesh-2026-bringing-ai-innovation-to-south-asian-football-302834662.html

Continue Reading

Trending