Business
Abaxx Announces Upsize of Convertible Debenture Offering
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES TORONT...
About this update from Abaxx Technologies Inc
[{"type":"text","content":"Abaxx Announces Upsize of Convertible Debenture Offering\n\n\n\n\n NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES\n \n\n\n TORONTO, March 25, 2025 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“\n \n Abaxx\n \n ” or the “\n \n Company\n \n ”), a financial software and market infrastructure company, indirect 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, today announces that as a result of strong investor demand it has increased the size of its previously announced non-brokered private placement of secured convertible debentures (the “\n \n Debentures\n \n ”) due 36 months following the date of issuance (the “\n \n Maturity Date\n \n ”) to up to C$40,000,000 (the “\n \n Offering\n \n ”)\n \n\n Each Debenture will consist of C$1,000 principal amount of secured convertible debentures of the Company and will be convertible into common shares of the Company (each, a “\n \n Debenture Share\n \n ) at the option of the holder thereof at any time prior to the Maturity Date at a conversion price equal to C$13.00 per Debenture Share. The outstanding principal amount of the Debentures, together with any accrued and unpaid interest, will become due and payable in full on the Maturity Date and will be payable in cash.\n \n\n The Company is working diligently towards completion of the Offering and expects to close the Offering later this week. The Offering is subject to completion of final transaction documentation and all regulatory approvals, including the approval of Cboe Canada. The net proceeds of the Offering are expected to be used for general corporate and working capital purposes.\n \n\n The securities offered in the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “\n \n U.S. Securities Act\n \n ”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons, absent registration or any applicable exemption from the ...