Alpha Compute Corp., a vertically integrated AI infrastructure company domiciled in the British Virgin Islands and Delaware, recently amended the binding term sheet and exclusive option governing its planned natural gas-powered data center campus in northern Pennsylvania.
The transaction was first announced on Aug. 11.
Under the amended terms, the base purchase price remains unchanged at $55 million. At closing, $8 million will be payable. The sellers will finance the remainder through a seller note issued by the acquiring entity.
“The sellers agreeing to finance $47 million of the purchase price is a direct statement of confidence in this project and in this team,” Brittany Kaiser, Alpha Compute CEO, said. “Pairing that with production-linked principal payments means the asset helps retire its own acquisition debt as gas comes online. Joining the PA Chamber reflects our intention to build this the right way, as a long-term participant in Pennsylvania’s economy rather than a visitor to it.”
The transaction covers two adjacent parcels of a combined approximately 243 acres in Tioga County and an approximately 107-acre property in Beaver County. The Tioga properties will become the campus while the Beaver property will be developed in the future. The purchase also includes approximately 1,800 net unleased oil and gas mineral acres in Tioga County.