BrenX Draws $1M More from Alpha Capital; Ratchet Resets All Preferred Conversion to $2.616
BRNX sits 26% above its 52-week low of $2.062 on light trading volume (0.2× avg).
Summary
BrenX received a $1 million funding notice from Alpha Capital, issuing preferred shares and warrants, and the anti-dilution ratchet reset all prior preferred conversion prices to $2.616.
Key Events · Financing and Capital Events · BRNX
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$1M Subsequent Funding from Alpha Capital
BrenX received a $1,000,000 funding notice on September 15, 2026, issuing 1,000 preferred shares with $1,000 stated value each, convertible at $2.616 per share.
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382,263 Warrants at $87.36 Strike
The funding includes ordinary warrants to purchase 382,263 shares at $87.36 per share, exercisable immediately with a 5-year term.
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Ratchet Resets All Preferred Conversion to $2.616
Anti-dilution provisions reset the conversion price of all previously issued preferred shares to $2.616, aligning the entire preferred overhang with current market price.
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Post-Closing Share Count
After closing, BrenX will have 1,946,972 ordinary shares and 3,476 preferred shares outstanding.
Analysis · BRNX · Manufacturing
BrenX is pulling another $1 million from Alpha Capital under the existing $25 million SPA, issuing 1,000 preferred shares convertible at $2.616 and 382,263 warrants struck at $87.36. The more consequential detail is the anti-dilution ratchet: the conversion price on all previously issued preferred shares has been reset to $2.616, which is slightly above today's $2.59 stock price. That means the entire preferred overhang now converts at a price essentially at market, maximizing the share count Alpha can eventually receive. With only 1.95 million ordinary shares outstanding and a market cap near $1.9 million, this financing continues the pattern of heavily dilutive, survival-driven capital raises disclosed in the August 6-K and the F-3 resale registration.
How filings like this one have moved
In the 30 days to Oct 17, 2026, 29.7% of the 1531 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.47%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BRNX was trading at $2.59 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $1.9M. The 52-week trading range was $2.06 to $512.40. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.