On September 10, 2026, Vulcan Infrastructure and Power Inc. closed a $39.4 million PIPE transaction with MIG REF II INFR, LLC, Atlas GREE Investment Holdco LLC, Conversant PIF Aggregator A LP, and other investors including insiders. The company issued approximately 17.15 million shares of Class A common stock at $1.71 per share and a $10 million senior secured convertible promissory note to MIG, which carries a 10% PIK interest rate and converts at $2.1375 per share. Proceeds will primarily redeem the remaining ~$33.1 million of 8.50% Senior Notes due October 2026. Concurrently, directors Timothy Lowe and Charles Zeynel resigned, and the board reconstituted to ten members with new appointments by MIG and Conversant. Vulcan Infrastructure and Power Inc. operates as a power and infrastructure platform focused on acquiring, developing, and operating energized sites that support artificial intelligence and high-performance computing data centers.