Business
Abaxx Announces Closing of US$22 Million Strategic Financing
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Abaxx Technologies Inc
[{"type":"text","content":"Abaxx Announces Closing of US$22 Million Strategic Financing\n\n\n\n\n /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n \n\n\n TORONTO, Oct. 20, 2025 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (CBOE:ABXX) (“\n \n Abaxx\n \n ” or the “\n \n Company\n \n ”), a financial software and market infrastructure company, majority shareholder of Abaxx Singapore Pte Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “\n \n Abaxx Exchange\n \n ” and “\n \n Abaxx Clearing\n \n ”), and producer of the SmarterMarkets™ Podcast, is pleased to announce it has today closed a non-brokered private placement financing (the “\n \n Financing\n \n ”) with a strategic investor (the “\n \n Investor\n \n ”). The Financing consisted of the issuance of 1,000,000 units (the “\n \n Units\n \n ”) of the Company at a price of US$22.00 per Unit for aggregate gross proceeds of US$22 million.\n \n\n Each Unit consists of one common share in the capital of the Company (a “\n \n Share\n \n ”) and one half of one Share purchase warrant (each whole warrant, a “\n \n Warrant\n \n ”). Each Warrant entitles the holder to purchase an additional share at a price of US$25.00 until April 20, 2028. The Warrants include anti-dilution provisions as well as a call provision allowing the Company to repurchase the Warrants at a price of C$0.01 per Warrant upon 30 days’ notice, in the event that the value-weighted average price of the Shares exceeds C$41.76 for a period of 20 consecutive trading days.\n \n\n The proceeds of the Financing are expected to be used for general corporate and working capital purposes, including funding ongoing Abaxx Exchange and Clearing operations and additional product listings; Abaxx Private Digital Title technology pilot programs and accelerating new hires and go-to-market execution, and minimum regulatory requirements for Abaxx Exchange and Abaxx Clearing.\n \n\n The Financing is subject to the final approval of Cboe Canada. All securities issued under the Financing will be subject to a four month hold period in accordance with applicable Canadian securities laws.\n \n\n This press release does not constitute an offer to sell or a soli...