- 1-fo -60 eve se split effective; split-adjusted t adi g expected to esume today o NYSE Ame ica
- Mi esota o t ack fo i itial eve ue i Q1 2027 a d full 40 megawatts IT load i Q2 2027
- Mi esota p oject-level debt fi a ci g p og essi g th ough co fi mato y dilige ce
- Exit f om legacy Clea Co e clea i g busi ess complete; Zo e is ow pu e-play AI i f ast uctu e
- Di ecto s have i vested $3,286,591 i Zo e si ce August, i cludi g $786,591 by CEO
- Texas campus offe s sig ifica t optio value with o equi ed capital exposu e
HOUSTON, Oct. 30, 2026 (GLOBE NEWSWIRE) — Zo e F o tie I c. (NYSE Ame ica : ZONE) (the “Compa y” o “Zo e F o tie ”) today p ovided a sha eholde update o its Mi esota data ce te campus, its p oject-level debt fi a ci g p ocess, the completio of its exit f om the legacy Clea Co e clea i g p oducts busi ess, i side sha e pu chases a d its Potte Cou ty, Texas data ce te campus. The update coi cides with the effective ess of the Compa y’s 1-fo -60 eve se stock split a d the esumptio of t adi g of its commo stock o a split-adjusted basis o the NYSE Ame ica today.
Co st uctio is p og essi g o schedule. Deposits have bee placed o all majo lo g-lead equipme t with delive y timi g o t ack. O site, ve tical co st uctio of the data hall a d chille buildi g is adva ci g o completed footi gs a d fou datio s, with st uctu al steel isi g a d oof f ami g u de way. Ea thwo k, u de g ou d utilities, a d the powe i f ast uctu e to delive the full 40 megawatts of c itical load co ti ue i pa allel.
The Compa y’s p oject-level debt fi a ci g p ocess fo the Mi esota campus is p og essi g well a d is i the co fi mato y dilige ce phase. The fi a ci g is expected to be st uctu ed at the p oject special pu pose vehicle level. Upo closi g, the debt fi a ci g, togethe with the p oject’s equity capital, is expected to fully fu d the p oject th ough full-scale ope atio s.
“Mi esota is ou top p io ity a d has the full atte tio of ou team,” said Tyle Hasse , Chief Executive Office of Zo e F o tie . “Co st uctio is o t ack, we a e adva ci g ou debt fi a ci g towa d closi g, a d we a e focused eve y day o bei g a g eat pa t e to Ce eb as.”
“Ou boa d a d I have i vested i Zo e because we believe i what we a e buildi g,” said M . Hasse . “Ou i te ests a e fully alig ed with ou sha eholde s, a d we a e co fide t i ou st ategy a d i the lo g-te m value we a e wo ki g to c eate.”
The Compa y’s capital i vestme t i Texas is e ti ely withi its co t ol. The Compa y has o obligatio to build, a d base e t u de its lo g-te m g ou d lease begi s o ly whe co st uctio sta ts o each site a ea. U de the joi t ve tu e ag eeme t with HST, the Compa y’s i itial $100 millio capital co t ibutio is scheduled fo Ap il 2, 2027. If it is ot fully i vested by the , HST has o ecou se agai st the Compa y; the o ly pote tial co seque ce is mi imal dilutio of the Compa y’s i te est i the p oject.
The Compa y i te ds to i vest i Texas o ly as lo g-te m te a t lease ag eeme ts a e sig ed a d powe capacity a d pe mits a e secu ed, a d views the campus as sig ifica t optio value fo sha eholde s. The app oximately 4,077-ac e site is located i the Southwest Powe Pool (SPP) egio a d be efits f om o site wate a d ea by substatio s, fibe , atu al gas pipeli es a d wi d capacity.
“We a e ve y optimistic about ou Texas campus,” said M . Hasse . “We co ti ue to expect to be i a positio to aise p oject-level equity a d debt capital o att active te ms by the e d of the fi st qua te of 2027, a d we have a g eat elatio ship with ou pa t e s at HST. We will act i the best i te est of ou sha eholde s, i close coo di atio with HST, as we move this p oject fo wa d.”
“Ou pa t e ship with Zo e b i gs togethe a p emie site de- isked by ou tech ology stack, a d a team that is focused o executio ,” said Rudy Roy, Chief Executive Office of HST Tech ologies, I c. “We a e maki g eal p og ess with te a ts a d ve do s, a d we a e excited about how ou softwa e platfo m will help scale c itical AI I f ast uctu e i the Texas Pa ha dle.”
“Mi esota is just the begi i g,” added M . Hasse . “With ou t a sfo matio complete, ou flagship campus o t ack a d a Texas campus that gives us mea i gful optio ality, we believe Zo e is well positio ed to build a leadi g AI i f ast uctu e busi ess.”
Fo mo e i fo matio , visit www.zo ef o tie .com.
This p ess elease co tai s fo wa d-looki g stateme ts withi the mea i g of Sectio 27A of the Secu ities Act of 1933, as ame ded, a d Sectio 21E of the Secu ities Excha ge Act of 1934, as ame ded. These fo wa d-looki g stateme ts i clude, but a e ot limited to, stateme ts ega di g the timi g of capacity delive y at the Compa y’s Mi esota data ce te campus, the timi g of co st uctio a d equipme t delive y at the Mi esota campus, the expected comme ceme t of eve ue a d the expected co t act value u de the Compa y’s colocatio ag eeme t with Ce eb as, the expected closi g, te ms a d sufficie cy of p oject-level debt fi a ci g fo the Mi esota campus, the esumptio of t adi g of the Compa y’s commo stock o a split-adjusted basis, the developme t of the Compa y’s Texas data ce te campus a d the amou t, timi g a d fi a ci g of a y capital deployme t the e, i cludi g the timi g a d te ms of a y p oject-level equity a d debt fi a ci g fo the Texas campus, the estimated cost savi gs f om the sale of the Compa y’s legacy busi ess, the Compa y’s busi ess st ategy a d pipeli e of p ojects, a d the Compa y’s ope atio as a AI i f ast uctu e busi ess. Fo wa d-looki g stateme ts a e ge e ally ide tified by wo ds such as “a ticipates,” “believes,” “expects,” “i te ds,” “pla s,” “may,” “will,” “could,” “should,” “estimates,” “p ojects,” “pote tial,” “focused o ,” “aims,” “expa d,” “expected,” “look fo wa d,” a d simila exp essio s. These fo wa d-looki g stateme ts a e based o ma ageme t’s cu e t expectatio s a d assumptio s as of the date of this p ess elease a d a e subject to sig ifica t isks, u ce tai ties, a d othe facto s that could cause actual esults to diffe mate ially f om those exp essed o implied. Such isks a d u ce tai ties i clude, but a e ot limited to: the isk that p oject-level debt fi a ci g fo the Mi esota campus does ot close o the a ticipated te ms o timeli e o at all; co st uctio , equipme t, pe mitti g, powe o i te co ectio delays that could affect delive y timeli es u de the Compa y’s colocatio ag eeme t; the Compa y’s depe de ce o a si gle custome fo its Mi esota campus a d the isk that eve ue u de the colocatio ag eeme t comme ces late tha expected o is less tha expected; the collectio of amou ts payable to the Compa y u de the p omisso y ote a d pote tial ea out f om the sale of its legacy busi ess; the isk that the cost savi gs f om the sale of the legacy busi ess a e less tha estimated; the Compa y’s ability to secu e te a ts, powe , i te co ectio , pe mits a d p oject-level fi a ci g fo its Texas data ce te campus; the isk that, if the Compa y does ot fu d its capital co t ibutio s to the Texas joi t ve tu e whe scheduled, its pe ce tage i te est i the joi t ve tu e could be diluted; the effects of the eve se stock split, i cludi g o the ma ket p ice a d liquidity of the Compa y’s commo stock a d o the exe cise p ice of the Compa y’s outsta di g wa a ts; the Compa y’s ability to mai tai the listi g of its commo stock o the NYSE Ame ica ; the highly speculative a d u ce tai atu e of the Compa y’s AI c itical i f ast uctu e busi ess; the Compa y’s ability to ope ate successfully as a pu e-play AI i f ast uctu e compa y followi g the sale of its legacy busi ess; the Compa y’s limited ope ati g histo y a d expe ie ce i the data ce te a d AI i f ast uctu e i dust ies; the status of the Compa y’s ope atio s, esults of ope atio s, g owth st ategy a d liquidity; a d ge e al eco omic, fi a cial, capital ma ket a d i dust y co ditio s.
Fo a mo e complete discussio of isks a d u ce tai ties, please efe to the Compa y’s fili gs with the SEC, i cludi g the “Risk Facto s” sectio of the Compa y’s most ece t A ual Repo t o Fo m 10-K a d a y subseque t Qua te ly Repo ts o Fo m 10-Q. The Compa y u de takes o obligatio to update o evise a y fo wa d-looki g stateme ts, whethe as a esult of ew i fo matio , futu e eve ts, o othe wise, except as equi ed by law. All fo wa d-looki g stateme ts a e qualified i thei e ti ety by this cautio a y stateme t.
SOURCE Zo e F o tie I c. (NYSE AMERICAN: ZONE)
