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Nexion Group Ltd. ( (AU:NNG) ) just unveiled an announcement.
NEXION Group Ltd has issued 800,000 convertible notes at $0.10 each to raise $80,000, intended to fund costs related to a proposed acquisition. These unsecured notes mature on 31 May 2026, with an interest rate of 10% per annum, and can be repaid in cash or converted into shares, subject to certain conditions. The company expects to repay the notes in full in cash, without issuing conversion securities.
More about Nexion Group Ltd.
NEXION Group Ltd integrates software, compute, storage, network, and cyber security to deliver reliable and robust hybrid-cloud systems. The company owns a 2MW data centre 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
Learn more about NNG stock on TipRanks’ Stock Analysis page.