Abaxx Technologies Upsizes Convertible Debenture Offering Amid Strong Demand

The latest update is out from Abaxx Technologies Inc ( (TSE:ABXX) ).

Abaxx Technologies Inc. has announced an increase in its non-brokered private placement of secured convertible debentures to C$40 million due to strong investor demand. The debentures, convertible into common shares at a price of C$13.00 per share, are expected to close soon, pending regulatory approvals. The proceeds will be used for general corporate and working capital purposes, potentially strengthening the company’s market position and operational capabilities.

More about Abaxx Technologies Inc

Abaxx Technologies Inc. is a financial software and market infrastructure company that focuses on developing and deploying technologies to facilitate communication, trade, and transactions. It is the indirect majority owner of Abaxx Singapore Pte Ltd., which operates the Abaxx Commodity Exchange and Clearinghouse. These entities are recognized as a ‘recognised market operator’ and ‘approved clearing house’ by the Monetary Authority of Singapore, providing futures and derivatives for commodities critical to the transition to a lower-carbon economy.

Average Trading Volume: 193,538

Technical Sentiment Signal: Sell

Current Market Cap: C$61.56M

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