Abaxx Technologies Launches C$20 Million Convertible Debenture Offering

Abaxx Technologies Inc ( (TSE:ABXX) ) has issued an update.

Abaxx Technologies Inc. has announced a C$20,000,000 convertible debenture offering, aiming to raise funds through a non-brokered private placement. The debentures, due in 36 months, will be convertible into common shares at a specified price and will bear interest at 7.0% per annum. The offering is expected to close by March 25, 2025, pending regulatory approvals, and the proceeds will be used for general corporate purposes. This move could enhance Abaxx’s financial position and support its market operations, potentially impacting stakeholders by providing improved financial stability and operational capacity.

More about Abaxx Technologies Inc

Abaxx Technologies Inc. is a financial software and market infrastructure company that focuses on developing and deploying technologies to enhance communication, trade, and transactions. The company is an indirect majority-owner of Abaxx Exchange and Abaxx Clearing, which are recognized as a ‘recognised market operator’ and ‘approved clearing house’ in Singapore. These subsidiaries introduce centrally cleared, physically deliverable commodities futures and derivatives to support the transition to a lower-carbon economy.

Average Trading Volume: 193,538

Technical Sentiment Consensus Rating: Sell

Current Market Cap: C$61.56M

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