🇺🇸Corvex signed a $33 million PIPE expected to close September 2, funding powered data-center expansions under definitive site agreements.

Corvex entered into a securities purchase agreement with strategic institutional and accredited investors for a private investment in public equity, or PIPE. The transaction covered 4.258 million shares of as-converted common restricted stock at $7.75 per share and was expected to generate approximately $33 million in gross proceeds before fees and expenses.

The PIPE was expected to close on or about September 2, 2026, subject to customary closing conditions; the filing did not present it as already closed. Goldman Sachs, Morgan Stanley and Oppenheimer acted as joint lead placement agents.

Corvex said it had executed definitive agreements for a Mid-Atlantic expansion and a new Midwest site. Both deployments are inside existing enterprise data-center facilities with live utility power, and management said the company had secured more than five times as much energized capacity, with a right to scale to more than 20 megawatts in 2027.

The company intended to use the proceeds for critical information-technology power capacity and continued development of its Amplified AI Cloud platform and Token Factory. Customer discussions were underway, but Corvex stated that no assurance could be given that take-or-pay GPU-as-a-Service contracts would be executed or that contemplated capacity, pricing, timing or expansion would be achieved.