Financing ·
RenX exchanges $1.45M debt for Series D Preferred Stock, warrants and common stock conversion rights
RENXRenX Enterprises Corp.
On September 30, 2026, RenX Enterprises Corp. entered into an exchange agreement with James D. Burnham to cancel $1,446,774.32 of outstanding principal and accrued interest under a promissory note dated June 2, 2025. In return, the company issued 1,441 shares of newly designated Series D Convertible Preferred Stock with a stated value of $1,000 per share, convertible at an initial price of $2.895 into up to 497,754 common shares, and a warrant to purchase 124,438 additional common shares at the same exercise price. The preferred stock accrues dividends at 8% annually, compounding quarterly, with a liquidation preference of 150% of stated value. The transaction is subject to Nasdaq exchange caps and beneficial ownership limitations, pending shareholder approval where required. RenX Enterprises Corp. operates in the enterprise technology sector.