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Nexion Group Ltd. ( (AU:NNG) ) has shared an update.
NEXION Group Ltd has issued 900,000 convertible notes at $0.10 each, raising $90,000 to fund costs related to identifying and advancing a suitable transaction. These unsecured notes mature on May 31, 2026, with a 10% annual interest rate, and are expected to be repaid in cash. The issuance aims to strengthen NEXION’s financial position and support its strategic initiatives, potentially impacting its market operations and stakeholder interests.
More about Nexion Group Ltd.
NEXION Group Ltd specializes in integrating software, compute, storage, network, and cybersecurity to deliver robust hybrid-cloud systems. The company owns a 2MW data center in Perth, Western Australia, which it utilizes to host compute and storage equipment and provide cloud services.
Technical Sentiment Signal: Sell
Current Market Cap: A$4.05M
Find detailed analytics on NNG stock on TipRanks’ Stock Analysis page.