{"success":true,"data":{"pressRelease":{"id":"160445","rtpr_id":"nPn6R5r1ca-20261005","ticker":"FRMM","exchange":"NASDAQ","all_tickers":["FRMM","SBAC"],"title":"Forum Markets Announces Joint Venture with Edge Node AI to Deploy Inference AI Compute Across the U.S. at Existing Powered Data Sites and Mobile Communications Towers","author":"PR Newswire","published_at":"2026-10-05T12:00:03.737Z","article_body":"Forum Markets Announces Joint Venture with Edge Node AI to Deploy Inference AI Compute Across the U.S. at Existing Powered Data Sites and Mobile Communications Towers\nPR Newswire\n\nPALM BEACH, Fla., Oct. 5, 2026\n\n * Initial planned deployment comprises approximately 11 MW of energized capacity\n * Compute capacity from initial deployment being fully allocated to long-term\noff-take partners\n * Forum Markets introduces 2027 revenue guidance of $125 Million to $175 Million\n * No equity issued to stand up initial deployment nor required to achieve 2027\nrevenue guidance\n * Real estate and site equipment have already been purchased; compute capital\nexpenditures are being funded through a combination of customer deposits and\nequipment financing\nPALM BEACH, Fla., Oct. 5, 2026 /PRNewswire/ -- Forum Markets, Incorporated\n(Nasdaq: FRMM) (\"Forum\" or \"the Company\"), an innovator in sourcing and\noperating cash-generating assets in aerospace, AI, and AI-powered consumer\nfinance, today announced its first major investment in artificial intelligence\n(\"AI\") infrastructure with the formation of Forum Edge AI LLC, a Delaware\nlimited liability company (the \"Joint Venture\") on October 2, 2026, a joint\nventure with Edge Node Inc., a Texas corporation (\"Edge Node AI\"), to own and\noperate high-performance inference compute capacity at sites that already have\npower and permits in place. Edge Node AI is an AI infrastructure company and\napproved Nvidia partner building a distributed AI inference network designed\nfor companies and assets that depend on constant, real-time graphics\nprocessing unit (GPU) access. Forum holds majority ownership of and controls\nthe Joint Venture, which has an initial portfolio consisting of 2MW of a 4 MW\ndata center in Dallas, a 9 MW data center campus in High Point, N.C., and one\ninitial mobile communications tower site of 1-2 MW with the ability to scale\nunder separate agreements with SBA Communications Corporation (Nasdaq: SBAC)\n(\"SBAC\") and Tillman Infrastructure (\"Tillman\"). The Company expects to\ncontract additional sites with other communications tower owners moving\nforward.\n\nTransaction Highlights\n\n * Joint Venture: Forum Edge AI LLC is owned 51% by Forum and 49% by Edge Node\nAI. Forum is the sole manager and expects to consolidate the Joint Venture's\nfinancial results\n * Initial portfolio: A Dallas data center with approximately 2 MW running\ntoday, stepping up to about 4 MW in the fourth quarter of 2026 and first\nquarter of 2027 with 2 MW already being operated by Edge Node AI, and 2 MW\nallocated to the Joint Venture; a six-building, 5-acre campus in High Point,\nN.C., with 9 MW of live utility power that will be 100% owned by the Forum\nEdge AI Joint Venture; and one mobile tower deployment in Texas near the\nexisting Dallas data center\n * Compute offtake: Forum Edge AI is allocating compute offtake to large,\nhigh-credit-quality counterparties over a multi-year period, which covers the\nentire contemplated initial power capacity and matches debt financing terms of\nthe compute equipment portfolio\n * Project-level structure: Each data site will be held in a special purpose\nvehicle (SPV) held by the Joint Venture, with each SPV financed and closed\nindependently, with no cross-collateralization between projects. This modular\ndeployment allows for capital efficiency and structuring agility.\n * Equipment financing: A material portion of the compute equipment will be debt\nfinanced, with the Joint Venture funding equipment down payments at the\nproject level primarily through proceeds of down payments from compute\noff-take partners and matched contract duration equipment financing.\n * Aligned ownership: Forum and Edge Node AI will exchange 9.95% equity stakes in\neach respective company, subject to the achievement of certain power and\nfinancing milestones by the Joint Venture. Forum's contingent issuance of\napproximately 1.46 million shares represents approximately 9.95% of its shares\noutstanding after giving effect to the issuance, based on 13.2 million shares\noutstanding as of October 2, 2026.\n * Revenue timing: The first compute racks in Dallas are already energized, with\nthe site's full initial phase capacity and contracted revenue expected in late\n2026 or early 2027, and the first compute racks in High Point, N.C., expected\nto energize in the first quarter of 2027. The initial mobile tower deployment\nis expected to occur by mid-2027. Given this cadence, Forum is introducing\nfull-year 2027 consolidated revenue guidance of $125 million to $175 million,\nreflecting 100% of Joint Venture revenue for the initial portfolio.\n\"We have looked at myriad AI financing and infrastructure opportunities over\nthe past several months, and we were deliberate about where we were willing to\ncommit capital,\" said McAndrew Rudisill, chairman and chief executive officer\nof Forum. \"Deal flow was never the constraint in this market. Discipline was.\nWe were patient because we were looking for a specific set of characteristics:\nsites where the power and the permits already exist; equipment we can finance\non terms we can model and collateralize; a structure that keeps risk contained\nat the project level; and a credible partner whose economics are aligned with\nour own over the long term. This transaction has all four, and we believe it\nrepresents the most attractive risk-adjusted return we have underwritten to\ndate. I am genuinely excited about the growth potential it unlocks for Forum,\nand we are intensely focused on the execution that will generate that growth,\none site at a time.\"\n\nThe transaction supports Forum's strategy of acquiring, structuring, financing\nand operating cash-generating assets with attractive risk-adjusted returns in\nlarge, complex markets with durable demand drivers. Forum has previously\nidentified AI infrastructure as one of its four key vertical markets,\nalongside commercial aerospace, manufactured housing finance and auto credit.\nForum's pipeline of AI infrastructure deals has been a key 2026 priority, and\nthe Joint Venture represents a major step forward in both expanding access to\nfinancing and tokenization opportunities and integrating strategic asset\nownership with a highly differentiated, risk-controlled and modular approach.\nThe Joint Venture is focused on inference, the workload that runs trained AI\nmodels in production, which in many use cases is required to sit close to the\nusers it serves. Forum Edge AI's platform architecture addresses this demand\nfor low-latency, edge compute by placing its sites inside metropolitan areas\nrather than in remote campuses. Simultaneously, this approach unlocks existing\nspare power, connectivity and physical sites rather than undertaking lengthy\nnew greenfield builds.\n\n\"The next phase of AI infrastructure will require more than simply adding GPU\ncapacity—it will require a distributed compute architecture that brings\nhigh-performance inference closer to where workloads and customers operate.\nEdge Node AI has been built around that vision,\" said Mallik Panda, founder\nand chief executive officer of Edge Node AI. \"Forum brings significant\ncapabilities in capital markets, financing, structuring, power and GPU supply\nthat are highly complementary to our technical and operating capabilities.\nTogether, we believe Forum Edge AI provides a strong platform to deploy\ninfrastructure rapidly across powered data centers and distributed edge\nlocations while maintaining disciplined, project-level economics. We are\nexcited to work alongside Forum to build and scale this platform.\"\n\nDeal Structure\n\nThe Joint Venture will initiate and own the various projects which,\ndiscretely, deliver compute. These projects are organized in a hub-and-spoke\nmanner, with the \"spokes\" as tower sites and the \"hubs\" as owned data centers\nfrom which equipment at the tower sites can also be serviced and maintained by\nForum Edge AI personnel. To mitigate risk, each AI compute site will be held\nin a distinct project-level SPV, and each project will be capitalized,\nfinanced and closed independently of the others, with no\ncross-collateralization between projects. Where a project includes real\nproperty, the land and the compute equipment will be held in separate\nentities, ensuring that equipment financing does not encumber real estate and\nreal estate financing does not encumber the equipment.\n\nForum is the sole manager and 51% owner of the Joint Venture and will\nconsolidate its financial performance. All project revenue will flow to the\nJoint Venture, and operating expenses will be charged to the Joint Venture at\nactual cost with no markup. Forum will hold a right of first refusal on any\ndata center or tower site originated by Edge Node AI, as well as on compute\ncapacity across all projects. Edge Node AI will license its variable-load\ninference technology to the Joint Venture and will provide senior technical\nand operating capabilities and personnel to run the data centers and edge\nnodes on a day-to-day basis.\n\nForum and Edge Node AI will exchange 9.95% equity stakes in each respective\ncompany, subject to the achievement of certain power and financing milestones\nby the Joint Venture. Edge Node AI will receive approximately 1.46 million\nshares of Forum's common stock, representing approximately 9.95% of its shares\noutstanding after giving effect to the issuance, based on 13.2 million shares\noutstanding as of October 2, 2026. Both parties are subject to lock-up\nrestrictions on the shares that may be issued. The cross-ownership is intended\nto align Forum's and Edge Node AI's interests in the long-term performance of\nthe platform.\n\nInitial Site Portfolio\n\nPower, permits and structures are already in place across the initial site\nportfolio. Forum believes this footprint delivers significantly reduced\nexecution risk and a faster path from capital deployment to revenue.\n\n * Dallas\n* The Joint Venture will own the computing equipment and transformer capacity\nat\nEdge Node AI's existing Dallas facility\n * Certificate of occupancy for colocation and data center use received July 1,\n2026\n * Approximately 2.0 MW of power running today, increasing to approximately 4.0\nMW at the meter by early 2027, with contracted revenue expected to begin in\nlate 2026 or early 2027\n * Edge Node AI retains ownership of the real estate while Forum's interest\ncovers the equipment\n * High Point, N.C.\n* Signed purchase and sale agreement to acquire a six-building, 5-acre campus\n * 9 MW of live utility power available on site today\n * Initial installation of approximately 6 MW of GPUs expected to energize in the\nfirst quarter of 2027\n * Additional capacity to be added in phases as required cooling upgrades are\ncompleted\n * Tower Sites\n* Separate agreements with SBAC and Tillman covering one initial mobile tower\ndeployment in Texas proximal to the existing Dallas data center. Agreements\ncontemplate scaling in multiple metropolitan statistical areas and provide a\nmeasured, highly modular growth trajectory to the tower deployment as deemed\nappropriate by the Joint Venture\n * The Joint Venture owns the equipment at each site and pays the tower owners a\nmonthly fee\n * Each installation has been sized to fit the existing lease, with zoning and\npower already in place\n * Opening step in a program under which the Joint Venture expects to access\nmultiple tower sites over time, with new tower sites added only after the\nprevious sites achieve certain key performance metrics\nThe Joint Venture is the result of the strategic review undertaken by the\nspecial committee of Forum's board of directors, which evaluated a range of\nalternatives. Given the scale and tenor of the venture, the committee\ndetermined to suspend further exploration at this time. Forum will provide\nadditional updates if and when appropriate.\n\nForum Markets Revenue Guidance\n\nForum Markets, Incorporated, the public company, is providing the revenue\nguidance set forth below on a consolidated basis. Based on current site\nrollout assumptions for the Joint Venture, including the timing of the Dallas\ntransformer upgrade, the North Carolina site closing and the pace of the first\ntower installation, Forum is establishing full-year 2027 revenue guidance of\n$125 million to $175 million (consolidated, reflecting 100% of Joint Venture\nrevenue). The Company continues to anticipate becoming cash flow positive in\nearly 2027.\n\nThe initial phase of deployment described in this release extends through\nmid-2027, and full-year 2027 revenue guidance reflects only the anticipated\ncontribution of this initial phase. Forum anticipates additional deployment\nbeyond the initial phase and expects it would update its full-year 2027\nguidance to reflect any such expansion. There can be no assurance that any\nadditional deployment will occur, or as to the timing, size or terms of any\nadditional deployment.\n\nForum will consolidate the Joint Venture in its financial statements. The\nguidance above therefore reflects 100% of the Joint Venture's anticipated\nrevenue. Edge Node AI's economic share of the Joint Venture will be reported\nbelow net income as noncontrolling interest and will not affect revenue.\n\nAbout Forum Markets, Incorporated\n\nForum Markets, Incorporated (Nasdaq: FRMM) is an innovative company that\nsources and structures cash-generating assets with attractive risk-adjusted\nreturns in AI infrastructure, commercial aerospace, manufactured housing\nfinance and auto credit. The Company draws on proprietary origination\npipelines and strategic co-investment partnerships to scale its portfolio and\ngenerate durable operating income. Forum integrates traditional asset\nmanagement principles with hands-on operational execution as it builds a new\nframework for how real-world assets are owned, managed and monetized. For more\ninformation, please visit forum-markets.com.\n\nAbout Edge Node AI\n\nEdge Node AI is an AI infrastructure company and approved Nvidia\npartner developing and operating distributed high-performance compute\ninfrastructure across the United States. The company's strategy combines\npowered data center capacity with distributed edge deployments, including\ntelecommunications tower locations, to support low-latency AI inference and\nother GPU-intensive workloads. Edge Node AI focuses on utilizing sites with\nexisting power, connectivity and infrastructure to accelerate deployment and\nbring compute capacity closer to customers and end users. Headquartered in\nDallas, Edge Node AI provides technical, infrastructure development and\noperating capabilities supporting the deployment and day-to-day operation of\nits AI compute network.\n\nForward-Looking Statements\n\nThis press release contains \"forward-looking statements\" within the meaning of\nthe Private Securities Litigation Reform Act of 1995, including statements\nregarding the future performance and growth of the Company; the ability of the\nCompany to execute its plans, the assets to be held by the Company, the\nCompany's current and anticipated yield strategies, and future performance.\nForward-looking statements are subject to numerous risks and uncertainties,\nmany of which are beyond the Company's control, and actual results may differ\nmaterially. Applicable risks and uncertainties include, among others, the risk\nthat the proposed transactions described herein may not be completed in a\ntimely manner or at all, including the risk that the parties do not execute\ndefinitive documentation for the Joint Venture or any individual project; the\nrisk that anticipated site capacity, power availability, permitting, equipment\ndelivery or customer contracts are delayed or not obtained; the risk that\nequipment financing is not available on the terms or in the amounts assumed,\nor at all; risks associated with the Company's guarantee obligations in\nsupport of project-level financing; failure to realize the anticipated\nbenefits of the stock repurchase program, previously announced private\nplacements, sale of convertible notes, and related transactions, including the\nCompany's ability to achieve profitable operations; the Company's ability to\nrepurchase shares of common stock, the timing thereof, purchase price thereof,\nand the fact that repurchases may not be undertaken under the stock repurchase\nprogram; fluctuations in the market price of ETH that will impact the\nCompany's accounting and financial reporting; government regulation of\ntokenized securities; risks relating to the treatment of assets for U.S. and\nforeign tax purposes; changes in securities laws or regulations; changes in\nbusiness, market, financial, political and regulatory conditions; risks\nrelating to the Company's OTC transaction, including the Company's ability to\nrepay such facility, covenants associated therewith and security interests\nassociated therewith; risks relating to the Company's previously announced ATM\noffering, including potential downward pressure on the Company's stock price\nassociated therewith; risks relating to the Company's operations and\nbusinesses; risks related to increased competition in the industries in which\nthe Company does and will operate; risks relating to significant legal,\ncommercial, regulatory and technical uncertainty regarding digital assets\ngenerally; expectations with respect to future performance, growth and\nanticipated acquisitions; potential litigation involving the Company; global\neconomic conditions; geopolitical events and regulatory changes; access to\nadditional financing, and the potential lack of such financing; and the\nCompany's ability to raise funding in the future and the terms of such\nfunding, including dilution caused thereby, as well as those risks and\nuncertainties identified and those identified under the heading \"Risk Factors\"\nin the Company's Annual Report on Form 10-K for the fiscal year ended December\n31, 2025 and Quarterly Reports on Form 10-Q, as well as other information the\nCompany has or may file with the SEC, including those disclosed under Item\n8.01 of the Current Reports on Form 8-K filed by the Company with the SEC.\nReaders are cautioned not to place undue reliance on these statements.\nInvestors should also be aware that under U.S. Generally Accepted Accounting\nPrinciples, certain crypto assets must be measured at fair value, with changes\nrecognized in net income for each reporting period. These fair value\nadjustments may cause significant fluctuations in the Company's balance sheet\nand income statement from period-to-period. In addition, for certain crypto\nassets, including ETH, which the Company holds as collateral against a loan,\nimpairment charges may be required to be reported in net income if the market\nprice of such assets falls below the cost basis at which those assets are\ncarried on the balance sheet. Readers are encouraged to read the Company's\nfilings with the SEC, available at www.sec.gov (http://www.sec.gov) , for a\ndiscussion of these and other risks and uncertainties. The forward-looking\nstatements in this press release speak only as of the date of this document,\nand the Company undertakes no obligation to update any forward-looking\nstatements except as required by law. The Company's business is subject to\nsubstantial risks and uncertainties, including those referenced above.\nInvestors, potential investors, and others should give careful consideration\nto these risks and uncertainties.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/forum-markets-announces-joint-venture-with-edge-node-ai-to-deploy-inference-ai-compute-across-the-us-at-existing-powered-data-sites-and-mobile-communications-towers-302898361.html\n(https://www.prnewswire.com/news-releases/forum-markets-announces-joint-venture-with-edge-node-ai-to-deploy-inference-ai-compute-across-the-us-at-existing-powered-data-sites-and-mobile-communications-towers-302898361.html)\n\nSOURCE Forum Markets, Incorporated\n\n\n\nForum Media and Investor Contact: John Kristoff, SVP, Corporate Communications and IR, IR@forum-markets.com; Edge Node AI Media Contact: Narendra Manney, Nmanney@edge-node.ai\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS1798216/forum-logo-and-monogram-black-Logo-Logo.jpg?id=OA2986209\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn6R5r1ca-20261005","title":"Forum Markets Announces Joint Venture with Edge Node AI to Deploy Inference AI Compute Across the U.S. at Existing Powered Data Sites and Mobile Communications Towers","author":"PR Newswire","ticker":"FRMM","created":"2026-10-05T12:00:03.737Z","tickers":["FRMM","SBAC"],"exchange":"NASDAQ","article_body":"Forum Markets Announces Joint Venture with Edge Node AI to Deploy Inference AI Compute Across the U.S. at Existing Powered Data Sites and Mobile Communications Towers\nPR Newswire\n\nPALM BEACH, Fla., Oct. 5, 2026\n\n * Initial planned deployment comprises approximately 11 MW of energized capacity\n * Compute capacity from initial deployment being fully allocated to long-term\noff-take partners\n * Forum Markets introduces 2027 revenue guidance of $125 Million to $175 Million\n * No equity issued to stand up initial deployment nor required to achieve 2027\nrevenue guidance\n * Real estate and site equipment have already been purchased; compute capital\nexpenditures are being funded through a combination of customer deposits and\nequipment financing\nPALM BEACH, Fla., Oct. 5, 2026 /PRNewswire/ -- Forum Markets, Incorporated\n(Nasdaq: FRMM) (\"Forum\" or \"the Company\"), an innovator in sourcing and\noperating cash-generating assets in aerospace, AI, and AI-powered consumer\nfinance, today announced its first major investment in artificial intelligence\n(\"AI\") infrastructure with the formation of Forum Edge AI LLC, a Delaware\nlimited liability company (the \"Joint Venture\") on October 2, 2026, a joint\nventure with Edge Node Inc., a Texas corporation (\"Edge Node AI\"), to own and\noperate high-performance inference compute capacity at sites that already have\npower and permits in place. Edge Node AI is an AI infrastructure company and\napproved Nvidia partner building a distributed AI inference network designed\nfor companies and assets that depend on constant, real-time graphics\nprocessing unit (GPU) access. Forum holds majority ownership of and controls\nthe Joint Venture, which has an initial portfolio consisting of 2MW of a 4 MW\ndata center in Dallas, a 9 MW data center campus in High Point, N.C., and one\ninitial mobile communications tower site of 1-2 MW with the ability to scale\nunder separate agreements with SBA Communications Corporation (Nasdaq: SBAC)\n(\"SBAC\") and Tillman Infrastructure (\"Tillman\"). The Company expects to\ncontract additional sites with other communications tower owners moving\nforward.\n\nTransaction Highlights\n\n * Joint Venture: Forum Edge AI LLC is owned 51% by Forum and 49% by Edge Node\nAI. Forum is the sole manager and expects to consolidate the Joint Venture's\nfinancial results\n * Initial portfolio: A Dallas data center with approximately 2 MW running\ntoday, stepping up to about 4 MW in the fourth quarter of 2026 and first\nquarter of 2027 with 2 MW already being operated by Edge Node AI, and 2 MW\nallocated to the Joint Venture; a six-building, 5-acre campus in High Point,\nN.C., with 9 MW of live utility power that will be 100% owned by the Forum\nEdge AI Joint Venture; and one mobile tower deployment in Texas near the\nexisting Dallas data center\n * Compute offtake: Forum Edge AI is allocating compute offtake to large,\nhigh-credit-quality counterparties over a multi-year period, which covers the\nentire contemplated initial power capacity and matches debt financing terms of\nthe compute equipment portfolio\n * Project-level structure: Each data site will be held in a special purpose\nvehicle (SPV) held by the Joint Venture, with each SPV financed and closed\nindependently, with no cross-collateralization between projects. This modular\ndeployment allows for capital efficiency and structuring agility.\n * Equipment financing: A material portion of the compute equipment will be debt\nfinanced, with the Joint Venture funding equipment down payments at the\nproject level primarily through proceeds of down payments from compute\noff-take partners and matched contract duration equipment financing.\n * Aligned ownership: Forum and Edge Node AI will exchange 9.95% equity stakes in\neach respective company, subject to the achievement of certain power and\nfinancing milestones by the Joint Venture. Forum's contingent issuance of\napproximately 1.46 million shares represents approximately 9.95% of its shares\noutstanding after giving effect to the issuance, based on 13.2 million shares\noutstanding as of October 2, 2026.\n * Revenue timing: The first compute racks in Dallas are already energized, with\nthe site's full initial phase capacity and contracted revenue expected in late\n2026 or early 2027, and the first compute racks in High Point, N.C., expected\nto energize in the first quarter of 2027. The initial mobile tower deployment\nis expected to occur by mid-2027. Given this cadence, Forum is introducing\nfull-year 2027 consolidated revenue guidance of $125 million to $175 million,\nreflecting 100% of Joint Venture revenue for the initial portfolio.\n\"We have looked at myriad AI financing and infrastructure opportunities over\nthe past several months, and we were deliberate about where we were willing to\ncommit capital,\" said McAndrew Rudisill, chairman and chief executive officer\nof Forum. \"Deal flow was never the constraint in this market. Discipline was.\nWe were patient because we were looking for a specific set of characteristics:\nsites where the power and the permits already exist; equipment we can finance\non terms we can model and collateralize; a structure that keeps risk contained\nat the project level; and a credible partner whose economics are aligned with\nour own over the long term. This transaction has all four, and we believe it\nrepresents the most attractive risk-adjusted return we have underwritten to\ndate. I am genuinely excited about the growth potential it unlocks for Forum,\nand we are intensely focused on the execution that will generate that growth,\none site at a time.\"\n\nThe transaction supports Forum's strategy of acquiring, structuring, financing\nand operating cash-generating assets with attractive risk-adjusted returns in\nlarge, complex markets with durable demand drivers. Forum has previously\nidentified AI infrastructure as one of its four key vertical markets,\nalongside commercial aerospace, manufactured housing finance and auto credit.\nForum's pipeline of AI infrastructure deals has been a key 2026 priority, and\nthe Joint Venture represents a major step forward in both expanding access to\nfinancing and tokenization opportunities and integrating strategic asset\nownership with a highly differentiated, risk-controlled and modular approach.\nThe Joint Venture is focused on inference, the workload that runs trained AI\nmodels in production, which in many use cases is required to sit close to the\nusers it serves. Forum Edge AI's platform architecture addresses this demand\nfor low-latency, edge compute by placing its sites inside metropolitan areas\nrather than in remote campuses. Simultaneously, this approach unlocks existing\nspare power, connectivity and physical sites rather than undertaking lengthy\nnew greenfield builds.\n\n\"The next phase of AI infrastructure will require more than simply adding GPU\ncapacity—it will require a distributed compute architecture that brings\nhigh-performance inference closer to where workloads and customers operate.\nEdge Node AI has been built around that vision,\" said Mallik Panda, founder\nand chief executive officer of Edge Node AI. \"Forum brings significant\ncapabilities in capital markets, financing, structuring, power and GPU supply\nthat are highly complementary to our technical and operating capabilities.\nTogether, we believe Forum Edge AI provides a strong platform to deploy\ninfrastructure rapidly across powered data centers and distributed edge\nlocations while maintaining disciplined, project-level economics. We are\nexcited to work alongside Forum to build and scale this platform.\"\n\nDeal Structure\n\nThe Joint Venture will initiate and own the various projects which,\ndiscretely, deliver compute. These projects are organized in a hub-and-spoke\nmanner, with the \"spokes\" as tower sites and the \"hubs\" as owned data centers\nfrom which equipment at the tower sites can also be serviced and maintained by\nForum Edge AI personnel. To mitigate risk, each AI compute site will be held\nin a distinct project-level SPV, and each project will be capitalized,\nfinanced and closed independently of the others, with no\ncross-collateralization between projects. Where a project includes real\nproperty, the land and the compute equipment will be held in separate\nentities, ensuring that equipment financing does not encumber real estate and\nreal estate financing does not encumber the equipment.\n\nForum is the sole manager and 51% owner of the Joint Venture and will\nconsolidate its financial performance. All project revenue will flow to the\nJoint Venture, and operating expenses will be charged to the Joint Venture at\nactual cost with no markup. Forum will hold a right of first refusal on any\ndata center or tower site originated by Edge Node AI, as well as on compute\ncapacity across all projects. Edge Node AI will license its variable-load\ninference technology to the Joint Venture and will provide senior technical\nand operating capabilities and personnel to run the data centers and edge\nnodes on a day-to-day basis.\n\nForum and Edge Node AI will exchange 9.95% equity stakes in each respective\ncompany, subject to the achievement of certain power and financing milestones\nby the Joint Venture. Edge Node AI will receive approximately 1.46 million\nshares of Forum's common stock, representing approximately 9.95% of its shares\noutstanding after giving effect to the issuance, based on 13.2 million shares\noutstanding as of October 2, 2026. Both parties are subject to lock-up\nrestrictions on the shares that may be issued. The cross-ownership is intended\nto align Forum's and Edge Node AI's interests in the long-term performance of\nthe platform.\n\nInitial Site Portfolio\n\nPower, permits and structures are already in place across the initial site\nportfolio. Forum believes this footprint delivers significantly reduced\nexecution risk and a faster path from capital deployment to revenue.\n\n * Dallas\n* The Joint Venture will own the computing equipment and transformer capacity\nat\nEdge Node AI's existing Dallas facility\n * Certificate of occupancy for colocation and data center use received July 1,\n2026\n * Approximately 2.0 MW of power running today, increasing to approximately 4.0\nMW at the meter by early 2027, with contracted revenue expected to begin in\nlate 2026 or early 2027\n * Edge Node AI retains ownership of the real estate while Forum's interest\ncovers the equipment\n * High Point, N.C.\n* Signed purchase and sale agreement to acquire a six-building, 5-acre campus\n * 9 MW of live utility power available on site today\n * Initial installation of approximately 6 MW of GPUs expected to energize in the\nfirst quarter of 2027\n * Additional capacity to be added in phases as required cooling upgrades are\ncompleted\n * Tower Sites\n* Separate agreements with SBAC and Tillman covering one initial mobile tower\ndeployment in Texas proximal to the existing Dallas data center. Agreements\ncontemplate scaling in multiple metropolitan statistical areas and provide a\nmeasured, highly modular growth trajectory to the tower deployment as deemed\nappropriate by the Joint Venture\n * The Joint Venture owns the equipment at each site and pays the tower owners a\nmonthly fee\n * Each installation has been sized to fit the existing lease, with zoning and\npower already in place\n * Opening step in a program under which the Joint Venture expects to access\nmultiple tower sites over time, with new tower sites added only after the\nprevious sites achieve certain key performance metrics\nThe Joint Venture is the result of the strategic review undertaken by the\nspecial committee of Forum's board of directors, which evaluated a range of\nalternatives. Given the scale and tenor of the venture, the committee\ndetermined to suspend further exploration at this time. Forum will provide\nadditional updates if and when appropriate.\n\nForum Markets Revenue Guidance\n\nForum Markets, Incorporated, the public company, is providing the revenue\nguidance set forth below on a consolidated basis. Based on current site\nrollout assumptions for the Joint Venture, including the timing of the Dallas\ntransformer upgrade, the North Carolina site closing and the pace of the first\ntower installation, Forum is establishing full-year 2027 revenue guidance of\n$125 million to $175 million (consolidated, reflecting 100% of Joint Venture\nrevenue). The Company continues to anticipate becoming cash flow positive in\nearly 2027.\n\nThe initial phase of deployment described in this release extends through\nmid-2027, and full-year 2027 revenue guidance reflects only the anticipated\ncontribution of this initial phase. Forum anticipates additional deployment\nbeyond the initial phase and expects it would update its full-year 2027\nguidance to reflect any such expansion. There can be no assurance that any\nadditional deployment will occur, or as to the timing, size or terms of any\nadditional deployment.\n\nForum will consolidate the Joint Venture in its financial statements. The\nguidance above therefore reflects 100% of the Joint Venture's anticipated\nrevenue. Edge Node AI's economic share of the Joint Venture will be reported\nbelow net income as noncontrolling interest and will not affect revenue.\n\nAbout Forum Markets, Incorporated\n\nForum Markets, Incorporated (Nasdaq: FRMM) is an innovative company that\nsources and structures cash-generating assets with attractive risk-adjusted\nreturns in AI infrastructure, commercial aerospace, manufactured housing\nfinance and auto credit. The Company draws on proprietary origination\npipelines and strategic co-investment partnerships to scale its portfolio and\ngenerate durable operating income. Forum integrates traditional asset\nmanagement principles with hands-on operational execution as it builds a new\nframework for how real-world assets are owned, managed and monetized. For more\ninformation, please visit forum-markets.com.\n\nAbout Edge Node AI\n\nEdge Node AI is an AI infrastructure company and approved Nvidia\npartner developing and operating distributed high-performance compute\ninfrastructure across the United States. The company's strategy combines\npowered data center capacity with distributed edge deployments, including\ntelecommunications tower locations, to support low-latency AI inference and\nother GPU-intensive workloads. Edge Node AI focuses on utilizing sites with\nexisting power, connectivity and infrastructure to accelerate deployment and\nbring compute capacity closer to customers and end users. Headquartered in\nDallas, Edge Node AI provides technical, infrastructure development and\noperating capabilities supporting the deployment and day-to-day operation of\nits AI compute network.\n\nForward-Looking Statements\n\nThis press release contains \"forward-looking statements\" within the meaning of\nthe Private Securities Litigation Reform Act of 1995, including statements\nregarding the future performance and growth of the Company; the ability of the\nCompany to execute its plans, the assets to be held by the Company, the\nCompany's current and anticipated yield strategies, and future performance.\nForward-looking statements are subject to numerous risks and uncertainties,\nmany of which are beyond the Company's control, and actual results may differ\nmaterially. Applicable risks and uncertainties include, among others, the risk\nthat the proposed transactions described herein may not be completed in a\ntimely manner or at all, including the risk that the parties do not execute\ndefinitive documentation for the Joint Venture or any individual project; the\nrisk that anticipated site capacity, power availability, permitting, equipment\ndelivery or customer contracts are delayed or not obtained; the risk that\nequipment financing is not available on the terms or in the amounts assumed,\nor at all; risks associated with the Company's guarantee obligations in\nsupport of project-level financing; failure to realize the anticipated\nbenefits of the stock repurchase program, previously announced private\nplacements, sale of convertible notes, and related transactions, including the\nCompany's ability to achieve profitable operations; the Company's ability to\nrepurchase shares of common stock, the timing thereof, purchase price thereof,\nand the fact that repurchases may not be undertaken under the stock repurchase\nprogram; fluctuations in the market price of ETH that will impact the\nCompany's accounting and financial reporting; government regulation of\ntokenized securities; risks relating to the treatment of assets for U.S. and\nforeign tax purposes; changes in securities laws or regulations; changes in\nbusiness, market, financial, political and regulatory conditions; risks\nrelating to the Company's OTC transaction, including the Company's ability to\nrepay such facility, covenants associated therewith and security interests\nassociated therewith; risks relating to the Company's previously announced ATM\noffering, including potential downward pressure on the Company's stock price\nassociated therewith; risks relating to the Company's operations and\nbusinesses; risks related to increased competition in the industries in which\nthe Company does and will operate; risks relating to significant legal,\ncommercial, regulatory and technical uncertainty regarding digital assets\ngenerally; expectations with respect to future performance, growth and\nanticipated acquisitions; potential litigation involving the Company; global\neconomic conditions; geopolitical events and regulatory changes; access to\nadditional financing, and the potential lack of such financing; and the\nCompany's ability to raise funding in the future and the terms of such\nfunding, including dilution caused thereby, as well as those risks and\nuncertainties identified and those identified under the heading \"Risk Factors\"\nin the Company's Annual Report on Form 10-K for the fiscal year ended December\n31, 2025 and Quarterly Reports on Form 10-Q, as well as other information the\nCompany has or may file with the SEC, including those disclosed under Item\n8.01 of the Current Reports on Form 8-K filed by the Company with the SEC.\nReaders are cautioned not to place undue reliance on these statements.\nInvestors should also be aware that under U.S. Generally Accepted Accounting\nPrinciples, certain crypto assets must be measured at fair value, with changes\nrecognized in net income for each reporting period. These fair value\nadjustments may cause significant fluctuations in the Company's balance sheet\nand income statement from period-to-period. In addition, for certain crypto\nassets, including ETH, which the Company holds as collateral against a loan,\nimpairment charges may be required to be reported in net income if the market\nprice of such assets falls below the cost basis at which those assets are\ncarried on the balance sheet. Readers are encouraged to read the Company's\nfilings with the SEC, available at www.sec.gov (http://www.sec.gov) , for a\ndiscussion of these and other risks and uncertainties. The forward-looking\nstatements in this press release speak only as of the date of this document,\nand the Company undertakes no obligation to update any forward-looking\nstatements except as required by law. The Company's business is subject to\nsubstantial risks and uncertainties, including those referenced above.\nInvestors, potential investors, and others should give careful consideration\nto these risks and uncertainties.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/forum-markets-announces-joint-venture-with-edge-node-ai-to-deploy-inference-ai-compute-across-the-us-at-existing-powered-data-sites-and-mobile-communications-towers-302898361.html\n(https://www.prnewswire.com/news-releases/forum-markets-announces-joint-venture-with-edge-node-ai-to-deploy-inference-ai-compute-across-the-us-at-existing-powered-data-sites-and-mobile-communications-towers-302898361.html)\n\nSOURCE Forum Markets, Incorporated\n\n\n\nForum Media and Investor Contact: John Kristoff, SVP, Corporate Communications and IR, IR@forum-markets.com; Edge Node AI Media Contact: Narendra Manney, Nmanney@edge-node.ai\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS1798216/forum-logo-and-monogram-black-Logo-Logo.jpg?id=OA2986209\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-10-05T12:00:04.070364976Z","server_sent_at_ms":1791201604070},"received_at":"2026-10-05T12:00:04.120Z","source_url":"https://www.prnewswire.com/news-releases/forum-markets-announces-joint-venture-with-edge-node-ai-to-deploy-inference-ai-compute-across-the-us-at-existing-powered-data-sites-and-mobile-communications-towers-302898361.html"},"analysis":{"id":"149018","press_release_id":"160445","analysis_json":{"industry":{"label":"Capital Markets","sector":"Financials"},"redFlags":["Guidance is for fiscal 2027, more than a year out, and depends on site closings, transformer upgrades and equipment delivery","Contingent ~9.95% equity issuance (~1.46M shares) to JV partner, milestone-gated","Company discloses prior ATM offering, convertible notes and ETH collateral exposure in risk factors","Board special committee suspended further strategic exploration upon this deal","Forum's guarantee obligations in support of project-level financing"],"eventType":"partnership","narrative":"Forum Markets formed Forum Edge AI LLC, a 51%-owned joint venture with Edge Node AI, to deploy inference AI compute across roughly 11 MW of energized capacity at existing powered data centers and communications towers.\n\nThe initial portfolio includes a Dallas data center ramping from 2 MW to 4 MW, a 9 MW High Point, N.C. campus, and a Texas mobile tower deployment under agreements with SBA Communications and Tillman Infrastructure; compute offtake is fully allocated to long-term counterparties.\n\nForum introduced 2027 consolidated revenue guidance of $125M-$175M and expects cash flow positivity in early 2027, with compute capex funded via customer deposits and equipment financing rather than new equity.\n\nAs part of the deal, Forum and Edge Node AI will exchange 9.95% equity stakes, with Forum's contingent issuance of about 1.46 million shares tied to power and financing milestones.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Micro-cap Forum pivots into edge AI compute with a fully-allocated 11 MW JV and first-ever $125M-$175M 2027 revenue guide — execution risk is now the story."},"keyFigures":{"guidance":"Full-year 2027 consolidated revenue guidance of $125 million to $175 million, reflecting 100% of Joint Venture revenue; cash flow positive expected early 2027","sharesOffered":"approximately 1.46 million shares (contingent, milestone-based)","customDimensions":{"jv_ownership":"Forum 51% / Edge Node AI 49%","dallas_capacity_mw":"2.0 MW running, ~4.0 MW by early 2027","shares_outstanding":13200000,"initial_capacity_mw":11,"high_point_capacity_mw":9}},"quotedText":"We were patient because we were looking for a specific set of characteristics: sites where the power and the permits already exist; equipment we can finance on terms we can model and collateralize; a structure that keeps risk contained at the project level; and a credible partner whose economics are aligned with our own over the long term.","namedEntities":{"people":[{"name":"McAndrew Rudisill","role":"Chairman and CEO of Forum Markets"},{"name":"Mallik Panda","role":"Founder and CEO of Edge Node AI"},{"name":"John Kristoff","role":"SVP, Corporate Communications and IR, Forum Markets"}],"products":["Forum Edge AI LLC","variable-load inference technology"],"companies":[{"name":"Forum Markets, Incorporated","ticker":"FRMM","relationship":"filer / JV majority owner"},{"name":"Edge Node Inc. (Edge Node AI)","relationship":"JV partner (49%)"},{"name":"SBA Communications Corporation","ticker":"SBAC","relationship":"tower site partner"},{"name":"Tillman Infrastructure","relationship":"tower site partner"},{"name":"Nvidia","relationship":"Edge Node AI approved partner"}],"dollarAmounts":[{"amount":"$125 million to $175 million","context":"full-year 2027 consolidated revenue guidance"}]},"materialImpact":{"score":4,"reasoning":"Formation of a majority-owned AI infrastructure JV with ~11 MW of initial capacity, fully allocated offtake, and first-ever 2027 revenue guidance of $125M-$175M — a strategic pivot with major revenue implications for a micro-cap. Modest contingent dilution (~9.95% share issuance) is milestone-gated."},"tickerRelevance":{"others":[{"ticker":"SBAC","relevance":"partner"}],"primary":"FRMM"},"globalImportance":30,"audienceRelevance":35,"eventTypeSecondary":["guidance_update","operations_update"],"importanceComponents":{"tickerTier":"micro-cap","dilutionRisk":"contingent ~9.95% issuance","eventGravity":"strategic JV entry into AI infrastructure with first revenue guidance","retailFavoriteBoost":"AI narrative resonance for small caps"}},"event_type":"partnership","event_type_secondary":["guidance_update","operations_update"],"sentiment":"bullish","material_impact_score":4,"narrative":"Forum Markets formed Forum Edge AI LLC, a 51%-owned joint venture with Edge Node AI, to deploy inference AI compute across roughly 11 MW of energized capacity at existing powered data centers and communications towers.\n\nThe initial portfolio includes a Dallas data center ramping from 2 MW to 4 MW, a 9 MW High Point, N.C. campus, and a Texas mobile tower deployment under agreements with SBA Communications and Tillman Infrastructure; compute offtake is fully allocated to long-term counterparties.\n\nForum introduced 2027 consolidated revenue guidance of $125M-$175M and expects cash flow positivity in early 2027, with compute capex funded via customer deposits and equipment financing rather than new equity.\n\nAs part of the deal, Forum and Edge Node AI will exchange 9.95% equity stakes, with Forum's contingent issuance of about 1.46 million shares tied to power and financing milestones.","key_figures":{"guidance":"Full-year 2027 consolidated revenue guidance of $125 million to $175 million, reflecting 100% of Joint Venture revenue; cash flow positive expected early 2027","sharesOffered":"approximately 1.46 million shares (contingent, milestone-based)","customDimensions":{"jv_ownership":"Forum 51% / Edge Node AI 49%","dallas_capacity_mw":"2.0 MW running, ~4.0 MW by early 2027","shares_outstanding":13200000,"initial_capacity_mw":11,"high_point_capacity_mw":9}},"named_entities":{"people":[{"name":"McAndrew Rudisill","role":"Chairman and CEO of Forum Markets"},{"name":"Mallik Panda","role":"Founder and CEO of Edge Node AI"},{"name":"John Kristoff","role":"SVP, Corporate Communications and IR, Forum Markets"}],"products":["Forum Edge AI LLC","variable-load inference technology"],"companies":[{"name":"Forum Markets, Incorporated","ticker":"FRMM","relationship":"filer / JV majority owner"},{"name":"Edge Node Inc. (Edge Node AI)","relationship":"JV partner (49%)"},{"name":"SBA Communications Corporation","ticker":"SBAC","relationship":"tower site partner"},{"name":"Tillman Infrastructure","relationship":"tower site partner"},{"name":"Nvidia","relationship":"Edge Node AI approved partner"}],"dollarAmounts":[{"amount":"$125 million to $175 million","context":"full-year 2027 consolidated revenue guidance"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-05T12:00:37.246Z","global_importance":30,"audience_relevance":35,"importance_components":{"tickerTier":"micro-cap","dilutionRisk":"contingent ~9.95% issuance","eventGravity":"strategic JV entry into AI infrastructure with first revenue guidance","retailFavoriteBoost":"AI narrative resonance for small caps"}},"durationMs":8780,"modelName":"glm-5.3-flashx"}}