Abaxx Technologies Secures C$22.85 Million in Convertible Debenture Offering

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

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