Unifi (UFI) disclosed in a regulatory filing Thursday that its Unifi Manufacturing unit agreed on April 10 to sell its Madison, North Carolina, plant and the surrounding land to Canadian firm Enovum Data Centers for $53.2 million in cash.

The buyer has already placed $2.25 million in escrow, of which $1.2 million is non-refundable, the company said.

Closing is slated for May 15, though Enovum may move the date up under the deal's terms, it added.

A key condition is Enovum's receipt of an energy study confirming the site's power capacity, according to the company.

Net proceeds will pay down part of Unifi's term and revolver borrowings under its existing credit agreement, Unifi added.

Shares of the company were up nearly 20% in recent trading.

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