NextNRG outlines nonbinding $22 million South Bend property deal

NextNRG’s proposed South Bend property purchase depends on more than a signed term sheet. In its Nov. 5 announcement, the company described a nonbinding agreement for approximately 33 acres and a $22 million price involving cash, preferred stock and debt. It said closing requires definitive documents, approvals, seller-lender consent and a Nasdaq listing condition.

The company proposes developing about 27 acres as the Lone Wolf Energy Center, with potential data-center capacity of 70 megawatts and possibly 100 megawatts. Those are development projections. A separate 10-year pharmaceutical-company lease would become effective only after the property is acquired.

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