Nexion Group Ltd. (AU:NNG) has released an update.
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Nexion Group Ltd has detailed its financial activities for the quarter ending September 2024, highlighting significant expenditures in product manufacturing, staff costs, and administration. The company issued a series of convertible notes to raise funds aimed at supporting a proposed acquisition, with these notes maturing in 2026 and carrying a 10% interest rate. Shareholders have the option to convert these notes into shares, although Nexion expects to repay them in cash.
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