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DelphX Capital Markets ( (TSE:DELX) ) has shared an update.
DelphX Capital Markets Inc. announced a non-brokered private placement of 2,151,000 units at C$0.07 per unit, aiming to raise C$150,570. Each unit includes a common share and a purchase warrant, allowing the holder to buy an additional share at $0.20 within five years. The offering is subject to TSX Venture Exchange approval and includes a hold period of four months plus one day. The proceeds will be used for general corporate purposes, potentially involving DelphX insiders, subject to compliance with insider trading policies. This move could enhance DelphX’s financial flexibility and strengthen its market position in the structured products sector.
Spark’s Take on TSE:DELX Stock
According to Spark, TipRanks’ AI Analyst, TSE:DELX is a Underperform.
DelphX Capital Markets faces substantial financial difficulties, with negative revenue and profitability, and a distressed balance sheet. While technical analysis shows some short-term positive momentum, the lack of profitability and poor valuation metrics weigh heavily on the stock’s overall score. The absence of notable earnings call data or corporate events leaves the financial performance and valuation as the primary determinants of the low score.
To see Spark’s full report on TSE:DELX stock, click here.
More about DelphX Capital Markets
DelphX Capital Markets Inc. is a technology and financial services company specializing in the development and distribution of innovative structured products for the fixed income market. Through its special purpose vehicle, Quantem LLC, DelphX offers private placement securities that mitigate spread and capital charge losses during downgrades, while providing attractive returns. Their proprietary products, such as collateralized put options (CPOs) and collateralized reference notes (CRNs), are fully collateralized and held in custody by US Bank.
Average Trading Volume: 33,882
Technical Sentiment Signal: Sell
Current Market Cap: C$19.77M
For detailed information about DELX stock, go to TipRanks’ Stock Analysis page.