BUUU Group Limited Signs Definitive Agreement to Acquire Majority Stake in Brightray Science Inc. and Over US$60 Million of Private Placements, Making Industrialized AI Data Center Delivery Its Core Growth Business
BUUU Group has signed a definitive agreement to acquire a 60% stake in Brightray Science Inc., a prefabricated modular data center builder, refocusing the Nasdaq-listed MICE company on industrialized AI data center delivery. Consideration consists of newly issued BUUU Class A shares at a fixed US$20.00 per share plus a promissory note convertible into up to 10 million shares, with Brightray founder Bin Wang joining as Executive Director and Co-CEO.
Key figures
- Pipeline Gw
- approximately 2GW
- Delivery Time
- six to nine months vs 18-36 conventional
- Stake Acquired
- 60%
- Flagship Campus
- 120MW Sedenak Tech Park, Johor
- Ownership Limit
- 19.99%
- Pipe Gross Proceeds
- over US$60 million (with potential cash warrant exercise)
- Convertible Note Shares
- up to 10 million
- Factory Annual Capacity
- 300MW (126,000 sqm)
- Pipeline Contract Value
- about US$9 billion
- Operating Capacity Johor
- 70MW
- Warrant Exercise Price Usd
- 10
- Consideration Share Price Usd
- 20
- Deliveries Target Next3 Fiscal Years
- roughly 1GW
AI analysis
Red flags6 · Pro
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