ISQ Open Infrastructure Co LLC Issues Unregistered Shares, Acquires AI Data Center

What Happened

• ISQ Open Infrastructure Co LLC filed an 8‑K (Sept 2, 2026) reporting that, as of Aug 1, 2026, it issued unregistered shares to investors and to independent directors for cash or services, raising aggregate net proceeds of $16,650,133. The offering relied on Section 4(a)(2)/Regulation D and/or Regulation S exemptions.
• The company also disclosed an August 2026 asset acquisition: an investment in a U.S. artificial‑intelligence interference and edge colocation data center platform called Saragon.
• On Aug 28, 2026 the company’s operating manager reported Transactional Net Asset Value (the sales price basis) per share as of July 31, 2026 for multiple share classes — most fell near ~$32 per share, while some classes were around ~$24.8 to ~$33.9.

Key Details

• Total unregistered share proceeds: $16,650,133 (issuances completed as of Aug 1, 2026).
• Example class issuances reported: Series II F‑S — 106,903 shares for $3,445,000; Series II J — 209,840 shares for $5,220,353; Series I F‑STE — 52,792 shares for $1,695,000.
• Asset acquisition: investment in “Saragon,” a U.S. AI interference and edge colocation data center platform (August 2026).
• Transactional NAV (as of July 31, 2026): most classes ~ $32 per share (e.g., Series II F‑S ≈ $32.23); certain classes lower (I/J classes ≈ $24.78–$24.88) and others higher (E class ≈ $33.89).

Why It Matters

• Capital and ownership: the unregistered issuances raised $16.65M and increased shares outstanding in multiple classes, which can dilute existing holders and affect per‑share metrics depending on class rights.
• Portfolio growth: the Saragon investment expands ISQ’s exposure to AI and edge colocation infrastructure, a sector investors view as strategic for AI workloads.
• Pricing transparency: the Transactional NAV figures give investors the official per‑share sale price basis (as of July 31, 2026) across classes — useful when comparing purchase/sale prices or tracking class‑level performance.