RenX Enterprises raises up to $100M via tranched convertible note and warrant private placement

RenX Enterprises Corp.

Initial closing of $6.3M convertible notes and warrants on May 4, netting ~$5.7M for working capital.
Second closing of $6.7M notes plus up to $87M additional notes, subject to conditions and mutual consent.
Notes bear 10% interest, mature in 12 months, convertible at $2.895/share; warrants exercisable at $2.67/share for 6 years.
Proceeds after second closing will repay Feb 2026 notes at 110% of outstanding principal.
Company must seek stockholder approval for alternate conversion at lower price and for reverse stock split.

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