New Era Energy Stock Jumps 17% as Company Reports Q3 Power Contract and Lease Talks

New ERA Energy & Digital (Nasdaq: NUAI) rose 16.7% on Thursday, closing at $2.72 from a previous close of $2.33, while the S&P 500 ETF (SPY) fell 0.35%. Trading volume was about 1.5 times its usual level. The move came the same morning the company released its third-quarter business update.

The company's 8-K furnished a press release and an investor presentation. The release said the company executed a 20-year power purchase agreement with Luminant, an affiliate of Vistra Corp, for a minimum of 200 MW and up to 207 MW of firm power for its Texas Critical Data Centers campus in Ector County. Power availability is expected in Q3 2027, with initial ready-for-service targeted for Q4 2027.

The company also said it is in advanced negotiations on Phase 1 lease documentation under a non-binding letter of intent covering Phases 1 and 2 with the same prospective tenant.

Financing and cash position

The company said it completed a $64 million private placement to repay Macquarie borrowings used to fund part of the power contract's cash collateral. At October 31, 2026, total cash was $187 million, including $49 million unrestricted and $138 million restricted. Outstanding debt was $20 million and cash collateralized. The company said it retained an option for up to $200 million of post-lease financing.

Dilution from the private placement

A 10-Q filed the same morning showed a net loss of $16.6 million for the third quarter, compared with $5.8 million a year earlier, and a loss per share of $0.15. The company's share count rose sharply during the period, and an October 8-K described the $64 million placement at $2.75 per share.

The filings do not state a direct reason for the day's share price gain.