RenX Enterprises Corp. (RENX) Form 8-K — Oct 5, 2026
$RENXForm 8-KItems 1.01, 3.02, 5.03, 9.01Filed Oct 5, 2026, 5:15 PM ET0001213900-26-106886Original filing
RenX Enterprises Corp. entered an exchange agreement on September 30, 2026 with James D. Burnham, its Director of Growth & M&A, to cancel $1,446,774.32 of outstanding note debt in exchange for 1,441 shares of newly designated Series D Convertible Preferred Stock and a warrant for 124,438 common shares. The securities convert or exercise at $2.895 per share, subject to full-ratchet anti-dilution adjustment down to a $1.50 floor price, with up to 960,666 common shares issuable on full conversion at the floor.
Key figures
- Floor price
- 1.5
- Warrant shares
- 124438
- Conversion shares
- 497754
- Redemption premium
- 115% (24-36 months), 110% (after 36 months)
- Dividend rate noncash
- 9% per annum
- Liquidation preference
- 150% of stated value
- Stated value per share
- 1000
- Warrant exercise price
- 2.895
- Delisting put note rate
- 10% per annum, 24-month maturity
- Preferred shares issued
- 1441
- Initial conversion price
- 2.895
- Max conversion shares at floor
- 960666
AI analysis
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