RenX swaps $1.02M convertible note for $1.04M new note plus 644,944-share warrant at $2.67

RenX Enterprises Corp.

Exchanged $1,022,971.22 of principal and accrued interest on the Feb 12, 2026 senior convertible note held by Alto Opportunity Master Fund for a new note of $1,037,283.93 (110% of principal).
New note: 10% annual interest, 12-month maturity, convertible at $2.895/share; alternative conversion at 92% of the 10-day lowest VWAP, floored at $0.534, pending stockholder approval.
Warrant for 644,944 shares at $2.67/share, immediately exercisable with a six-year term; ~394,133 conversion shares at $2.895 and ~644,944 at the $0.534 floor.
Company must hold a special shareholder meeting within 120 days to approve alternate-conversion share issuances; a second meeting is due within 120 days if approval fails by day 180.
Default interest jumps to 18% per annum and holders can force redemption at 110%; company may redeem the note at 110% and must apply 2.39% of future equity sale proceeds if demanded.

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