Nexion Group Ltd. (AU:NNG) has released an update.
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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