RenX Enterprises Corp. (RENX) Form 8-K — Aug 28, 2026
RenX Enterprises Corp. closed the second tranche of its tranched private placement on August 26, 2026, selling $5,662,716.07 of senior convertible notes plus warrants on 3,520,859 shares to institutional investors, netting approximately $5.4 million after placement agent fees and other offering expenses. The Second Notes convert into as few as 2,151,638 shares at the $2.895 initial conversion price but up to 11,664,772 shares if converted at the floor price — roughly 5.4x the share count — on top of the 3.52 million warrant shares, creating substantial dilution potential for a small-cap issuer.
Key figures
- Net Proceeds
- 5400000
- Initial Notes Principal
- 6300000
- Liquidated Damages Rate
- 2.0% of subscription amount per monthly anniversary until cured
- Initial Conversion Price
- 2.895
- Additional Notes Available
- 87000000
- Second Closing Warrant Shares
- 3520859
- Initial Closing Warrant Shares
- 3917099
- February Notes Repayment Premium
- 110% of outstanding aggregate principal
- Liquidated Damages Late Interest
- 18% per annum
- Second Notes Maximum Purchasable
- 6700000
- Additional Closings Warrant Shares
- 54093267
- Second Closing Shares At Floor Price
- 11664772
- Assumed Note Interest For Conversion Calc
- 10%
- Second Closing Shares At Initial Conversion Price
- 2151638
Price after filing
Close on the filing date to close N calendar days later (from $2.00). Historical, not a forecast.
AI analysis
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