RenX Enterprises Corp. exchanged $7.17 million of outstanding debt with Index Equity US, LLC for 7,169 shares of Series C Convertible Preferred Stock and a warrant to purchase 619,084 shares of common stock. Stockholders approved a reverse stock split range of 1-for-5 to 1-for-10, as well as the issuance of common stock upon conversion of various notes and warrants. The company also increased the authorized shares under its 2023 Incentive Compensation Plan to 520,000. RenX Enterprises Corp. operates in the sustainable infrastructure and green technology sector.
