tiprankstipranks
Trending News
More News >

Abaxx Technologies Secures C$22.85 Million in Convertible Debenture Offering

Story Highlights
Abaxx Technologies Secures C$22.85 Million in Convertible Debenture Offering

Confident Investing Starts Here:

Abaxx Technologies Inc ( (TSE:ABXX) ) has issued an update.

Abaxx Technologies Inc. has successfully closed the first tranche of its non-brokered private placement of secured convertible debentures, raising C$22.85 million. The funds are intended for general corporate and working capital purposes. This move strengthens Abaxx’s financial position and supports its ongoing operations, with the potential for a second tranche to raise an additional C$17.15 million. The debentures are convertible into common shares and are secured against publicly-traded securities owned by the company, reflecting a strategic financial maneuver to bolster its market presence.

More about Abaxx Technologies Inc

Abaxx Technologies Inc. is a financial software and market infrastructure company that indirectly holds a majority stake in Abaxx Singapore Pte Ltd., which owns the Abaxx Commodity Exchange and Clearinghouse. The company also produces the SmarterMarkets™ Podcast, focusing on market infrastructure and commodity exchange services.

Average Trading Volume: 193,538

Technical Sentiment Signal: Sell

Current Market Cap: C$61.56M

Find detailed analytics on ABXX stock on TipRanks’ Stock Analysis page.

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.

Report an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1