Olenox Industries Inc. (NASDAQ:OLOX) shares surged 61.79% to $7.96 in after-hours trading on Thursday, after the company announced the closing of its acquisition of energy-intensive data center and digital infrastructure company CS Digital Ventures, LLC.
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The $30 million deal includes $14 million in newly issued Series D Preferred Stock and a $16 million unsecured promissory note. It combines Olenox's upstream natural gas assets and proprietary processing technology with CS Digital's 35 MW of installed capacity, along with $20.6 million in 2025 revenue and $6.2 million in 2025 EBITDA.
The transaction originated from a non-binding letter of intent signed in April, initially valued at up to $50 million as an all-stock merger.
According to the Securities and Exchange Commission filing, the combined platform targets all-in power costs below $0.02 per kWh for off-grid, gas-powered data centers.
