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An update from Luxxfolio Holdings Inc ( (TSE:LUXX) ) is now available.
Luxxfolio Holdings Inc. has closed the second and final tranche of its previously announced non-brokered private placement, issuing an additional 1,430,000 units at $0.17 each for gross proceeds of $243,100. In total, the financing raised $1,029,180 through the issuance of 6,054,000 units, each comprising one common share and one warrant exercisable at $0.35 for 24 months, alongside cash finder’s fees and finder warrants. Subject to customary approvals, the company plans to deploy the net proceeds from this tranche toward general working capital and the development of its Litecoin and stablecoin projects, underscoring its push to build out infrastructure for crypto-based payments and related services.
The most recent analyst rating on (TSE:LUXX) stock is a Hold with a C$0.21 price target. To see the full list of analyst forecasts on Luxxfolio Holdings Inc stock, see the TSE:LUXX Stock Forecast page.
Spark’s Take on TSE:LUXX Stock
According to Spark, TipRanks’ AI Analyst, TSE:LUXX is a Neutral.
The score is held down primarily by weak and volatile financial performance (inconsistent revenue, ongoing losses, and recent cash burn). Technical indicators provide some near-term support, but the longer-term trend remains weak, and valuation is not compelling given negative earnings and no dividend.
To see Spark’s full report on TSE:LUXX stock, click here.
More about Luxxfolio Holdings Inc
Luxxfolio Holdings Inc. is a digital infrastructure and technology company focused on enabling crypto-powered commerce. It develops and invests in on-chain technologies that support real-world cryptocurrency use cases, including stablecoin payments, merchant processing, and self-custody wallets, and has adopted a Litecoin treasury strategy as part of its long-term vision to accelerate mainstream adoption of crypto for everyday payments.
Average Trading Volume: 57,919
Technical Sentiment Signal: Sell
Current Market Cap: C$1.96M
For a thorough assessment of LUXX stock, go to TipRanks’ Stock Analysis page.