RenX Enterprises converts $1.45 million of debt into preferred stock and warrant
RENX•RenX Enterprises exchanged $1.45 million of promissory note principal and accrued interest for 1,441 Series D preferred shares and a warrant. The preferred shares are initially convertible into 497,754 common shares, and the warrant covers 124,438 shares, both at an initial price of $2.895 per share.
1. Debt exchange terms
RenX Enterprises exchanged $1.45 million of promissory note principal and accrued interest for 1,441 Series D convertible preferred shares, and the debt was cancelled on Sept. 30, 2026. The preferred shares are initially convertible at $2.895 per share into 497,754 common shares, subject to Nasdaq shareholder approval limits; the accompanying warrant covers 124,438 common shares at an initial exercise price of $2.895. If RenX is delisted from Nasdaq for 30 consecutive trading days, the holder can exchange the preferred shares for a 10% unsecured note due in 24 months.
