Series A convertible-note greenshoe · AI
Nscale adds $10m through its Series A convertible-note greenshoe
Sandton exercised the option on July 2, 2025, extending the company’s earlier convertible financing.
The exercise brought Nscale an additional $10 million in principal, with the cash received in July 2025. It followed the $155 million Series A financing announced in December 2024, which used secured subordinated convertible notes.
The participating Sandton group includes Sandton Capital Solutions Master Fund V (Delaware), L.P. and related parties. The notes later converted into Series B preferred shares on October 8, 2025. That conversion changed the form of the earlier funding rather than providing another cash investment.
Funding history
Series A convertible-note greenshoe · This round$10M
Macquarie senior credit facility≤$105MSandton term loan Tranche D$20MSeries A convertible notes$155MSandton term loan Tranche C≤$21M