AIB Data Centers (AIB) Registration filing summary

Company overview and business model

• Develops, owns, and operates digital infrastructure for AI hosting and high-performance computing (HPC) colocation, centered on a 65 MW data center (CLT-01) with modular expansion plans.

• Converts powered land and brownfield sites into AI/HPC-grade colocation facilities, providing real estate, power, cooling, and connectivity under long-term leases; tenants supply their own compute hardware.

• As of May 2026: 65 MW energized at CLT-01, 25 MW in development, and a 485 MW pipeline across four sites.

• Recent developments include repurposing CLT-01 for AI/HPC, expanding utility power to 65 MW, and listing on NYSE American.

Financial performance and metrics

• For the year ended December 31, 2025: $18.5M revenue, $0.8M net loss, $1.7M adjusted EBITDA, reflecting transition to HPC workloads and transaction expenses.

• Q1 2026: $4.9M revenue, $0.3M net loss, 12% gross margin, with increased energy costs impacting profitability.

• Revenue concentration remains high, with 93% of 2025 revenue from three customers; efforts underway to diversify.

• Cash as of March 31, 2026: $1.3M; positive operating cash flow, no significant traditional debt.

Use of proceeds and capital allocation

• Net proceeds of ~$55.8M (or $67.6M if over-allotment exercised) expected, to be used for working capital, capital expenditures for business growth, and general corporate purposes.

• Management retains broad discretion over allocation of proceeds.