NC-1 acquisition and Duke earnout
Company: WhiteFiber
The claim, verbatim
NC-1 was acquired for $45M plus up to an $8.0M earnout payable if Duke Energy provides an Electric Services Agreement for at least 99.0 MW within two years of the acquisition (deal signed April 2025, closed May 2025).
Source (primary)
whitefiber 8-K exhibit (ea025484401ex99-1_white.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-10-05)Live source ↗
Quote: “Subject to up to $8.0M earnout if Duke Energy provides an Electric Services Agreement for at least 99.0 MW within two years of acquisition of NC - 1.”
How we checked this
Checked on October 6, 2026. The cited source supports every part of this claim.
The portfolio slide gives the NC-1 purchase price as $45M plus earnout, and its footnote describes the up-to-$8.0M Duke Energy earnout condition. The total of about $53M including the earnout is consistent with this. A separate footnote states the deal was signed in April 2025 and closed in May 2025.
Confirmed in the source:
- NC-1 was acquired for $45M plus an earnout (shown as '645M USD + Earnout', where the '$' sign is rendered as '6' throughout the cached text)
- The earnout is up to $8.0M
- The earnout is payable if Duke Energy provides an Electric Services Agreement for at least 99.0 MW within two years of the NC-1 acquisition
- The NC-1 deal was signed in April 2025 and closed in May 2025
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/2042022/000121390025081421/ea025484401ex99-1_white.htm) in full (24,103 characters, retrieved October 5, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms whitefiber 8-K exhibit (ea025484401ex99-1_white.htm)
Quote: “Subject to up to $8.0M earnout if Duke Energy provides an Electric Services Agreement for at least 99.0 MW within two years of acquisition of NC - 1.”