secwatch.observer — SEC 8-K summary
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Issuer:     RenX Enterprises Corp. (RENX)
CIK:        0001959023
Form:       8-K
Filed at:   2024-10-31T23:59:59+00:00
Accession:  0001213900-24-092978
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Safe and Green Development closes $2.22M second tranche convertible debenture offering with Arena Investors
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- Issued $2,222,222 aggregate principal 10% convertible debentures at $2,000,000 purchase price (10% OID).
- Debentures mature in 18 months, bear 10% PIK interest, convertible at lower of $3.48 or 92.5% of 10-day VWAP (floor $0.90).
- Issued warrants to purchase 170,892 shares at $3.476 per share, expiring in 5 years.
- Placement agent Maxim Group received $120,000 fee; company also reimbursed Arena $10,000 legal fees.
- Amendment to first closing debentures to fix floor price to comply with Nasdaq rules.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1959023/000121390024092978/0001213900-24-092978-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1959023/000121390024092978/ea0219036-8k_safe.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-092978

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