secwatch.observer — SEC 8-K summary
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Issuer:     RenX Enterprises Corp. (RENX)
CIK:        0001959023
Form:       8-K
Filed at:   2026-10-05T21:15:54+00:00
Accession:  0001213900-26-106886
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.02, 5.03, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

RenX swaps $1.45M Burnham note for Series D preferred plus warrant; up to 960,666 shares on full conversion
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- Exchanged $1,446,774.32 outstanding ($1,255,000 principal + $191,774.32 accrued interest) on an 11.5% note dated June 2, 2025 for 1,441 Series D preferred shares.
- Series D converts at $2.895 per share into 497,754 common shares; accompanying warrant covers 124,438 shares at $2.895 with a five-year term.
- Full conversion at the $1.50 floor price would issue up to 960,666 common shares, subject to a Nasdaq exchange cap and stockholder approval.
- Preferred pays an 8% dividend compounding quarterly (rising to 9% if not paid in cash), has $1,000 stated value and a 150% liquidation preference.
- Debtholder James D. Burnham is RenX's Director of Growth & M&A and a former board director; a 30-day delisting lets him swap the preferred for a 10% note maturing in 24 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1959023/000121390026106886/0001213900-26-106886-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1959023/000121390026106886/ea0307672-8k_renx.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-106886

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