Big Digital Energy sells $15.03 million of convertible preferred to Six Thirty AI
On June 30, 2026, Big Digital Energy sold 16,700 shares of Series D Convertible Preferred Stock to Six Thirty AI, LLC for gross proceeds of $15.03 million before placement fees, and issued a warrant for 926,748 shares at $10.81. The buyer is controlled by three executives, used borrowed funds, and pledged the preferred to its lenders; the preferred converts at a discount to the market price with a $1.80 floor, which could dilute existing shareholders. The company also disclosed a planned 50/50 joint venture with 10NetZero to acquire a Texas power-ready site, for which it has signed a letter of intent.
Key points
- Gross proceeds of $15.03 million from 16,700 Series D shares at $900 per share; Northland Securities fee of 6.0% of gross proceeds
- Buyer Six Thirty AI is controlled by Executive Chairman Josh Kilgore, CEO Phil Stanley and COO Cody Smith; a committee of disinterested directors approved the deal
- Conversion from August 30, 2026 at 95% of the lowest five-day VWAP, with a $1.80 floor; dividends of 5% rising to 18% during a Triggering Event; resale registration filing due by July 20, 2026
- Same-day press release: letter of intent to acquire a 50% interest in a Hood County, Texas site with 17 MW of operational power; the investor presentation states no tenant is under letter of intent or contract
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 06, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.