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The latest announcement is out from Nexion Group Ltd. ( (AU:NNG) ).
NEXION Group Ltd announced the issuance of 700,000 convertible notes at $0.10 each, raising $70,000 to fund a proposed acquisition. These unsecured notes mature on 31 May 2026 with a 10% annual interest rate and are subject to shareholder approval for conversion into shares. The company expects to repay the notes in cash, impacting its financial strategy and potential acquisition plans.
More about Nexion Group Ltd.
NEXION Group Ltd specializes in integrating software, compute, storage, network, and cybersecurity to provide robust hybrid-cloud systems. The company owns a 2MW data center in Perth, Western Australia, which it uses to host compute and storage equipment and deliver cloud services.
Technical Sentiment Signal: Sell
Current Market Cap: A$4.05M
See more insights into NNG stock on TipRanks’ Stock Analysis page.