BUUU Group to Acquire 60% Stake in Brightray Science

BUUU Group Limited Agrees to Acquire Majority Stake in Brightray Science Inc. and Secures Over US$60 Million in Private Placements, Focusing on Industrialized AI Data Center Delivery

SINGAPORE, Sept. 3, 2026, BUUU Group Limited (Nasdaq: BUUU) has signed a definitive agreement to acquire a 60% equity interest in Brightray Science Inc., a provider of fully integrated, prefabricated modular data center solutions. The transaction, valued at over US$60 million, will make industrialized AI data center delivery the core growth business for BUUU. The acquisition, coupled with the planned relocation of BUUU's headquarters to Singapore, marks a significant strategic shift for the company.

Under the terms of the agreement, BUUU will issue newly issued Class A Ordinary Shares valued at US$20.00 per share and a promissory note convertible into up to 10 million BUUU shares, contingent on Brightray's financial performance. The sellers will retain a 40% ownership interest in Brightray, while BUUU will hold a call option to acquire the remaining interest during the next three years. The management and board of BUUU are expected to remain unchanged, with Brightray's founder, Mr. Bin Wang, joining BUUU as Executive Director and Co-Chief Executive Officer.

"The bottleneck in the AI era is not the chips but the buildings, power, and cooling infrastructure," said a BUUU spokesperson. "Brightray has turned this bottleneck into a manufacturable product, and we are acquiring the rate-limiting step of the AI economy."

Brightray, founded by Mr. Bin Wang and previously supported by Tencent-affiliated investors, has a proven track record in delivering hyperscale data centers. The company's industrialized approach to data center deployment, with delivery times compressed from 18 to 36 months to six to nine months, is expected to significantly enhance BUUU's competitiveness. Brightray offers three delivery models, full prefabrication (FPD), interior prefabrication (IPD), and containerized prefabrication (CPD), across a range of cooling solutions, backed by an ISO-certified manufacturing base with an annual capacity of 300MW.

In Malaysia, the 120MW Sedenak Tech Park campus in Johor, operated by Brightray, is currently running 70MW for leading internet and cloud customers. An additional 50MW is scheduled for completion. Johor, the largest data center market in the Asia Pacific region, is a key target for Brightray's expansion.

To support its rapid growth, BUUU has entered into private placement agreements with certain investors, expected to generate aggregate gross proceeds of over US$60 million. The funds will be used to support capacity expansion and working capital requirements. The financings are subject to customary closing conditions and remain unregistered under the U.S. Securities Act of 1933.

"Brightray has transformed the data center industry by industrializing the build process," said Mr. Wang. "Joining forces with BUUU will enable us to take this model global and reach a broader market."

The acquisition and private placements are expected to significantly bolster BUUU's capabilities in delivering AI data centers, positioning the company to capitalize on the expected tripling of data center demand by 2030. With a pipeline targeting approximately 1GW of deliveries over the next three fiscal years, BUUU aims to leverage its new capabilities to secure a substantial share of the growing market.

"By relocating our headquarters to Singapore, we will be better positioned to serve our customers, attract top talent, and access capital markets," added the BUUU spokesperson.