Latham Represents Oaktree Capital Management in SharonAI’s US$350 Million Private Convertible Senior Notes Offering

SharonAI Holdings Inc. (NASDAQ: SHAZ) and its subsidiaries, a leading Australian Neocloud, have announced the closing of their previously announced offering of convertible senior notes due 2031 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The financing was led by Oaktree Capital Management, L.P., including funds and accounts within Oaktree’s Value Opportunities investment strategy, with participation from other new and existing institutional investors. The company intends to use the proceeds from the offering to fund GPU and network procurement, along with working capital to support revenue‑generating AI cloud deployments. This includes the previously announced cloud computing infrastructure agreement with a global technology company with a major Asia‑Pacific presence, valued at approximately US$950 million over five years, from which revenue is expected to commence by the end of the third and fourth quarters of 2026.

Latham & Watkins LLP represented Oaktree in the financing with a team led by Stelios Saffos, Global Chair of Latham’s Capital Markets and Hybrid Capital practices, Greg Rodgers, Global Vice Chair of the Corporate Department, and partners Joe Zujkowski, Peter Sluka, and Brittany Ruiz, with associates Andrew Bentz and Jessmine Lee.