Olenox Closes $22M Wildboy/IPD Buy, Pays Almost Entirely in Series F Preferred
OLOX sits 26% above its 52-week low of $0.6 on light trading volume (0.2× avg).
Summary
Olenox closed its Wildboy Holdings and IPD Industries acquisition for $22.0M, paid almost entirely in 210,000 Series F preferred shares convertible at $1.00 plus 700,000 common shares and just $300,000 cash.
Key Events · M&A and Partnerships · OLOX
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Wildboy and IPD Acquisition Closed
Olenox acquired 100% of Wildboy Holdings (BC gas processing, ~184,785 acres, 56.8 Bcf proved developed reserves) and IPD (100 MW self-generator registration near Pecos, Texas) on October 19, 2026.
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$22.0M Consideration, Mostly Preferred
700,000 common shares at $1.00 ($700K) + 210,000 Series F preferred at $100 stated value ($21.0M) + $300,000 cash, less acquired debt, transaction expenses and the $328,561 deposit already paid.
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Series F Conversion and Caps
Series F converts at $1.00 per common share, is non-voting, and cannot convert beyond 19.9% of outstanding common until stockholders approve under Nasdaq Rule 5635(d); 4.9%/9.9% holder blockers and a 6-month lock-up apply.
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No Cash to Sellers at Closing
Because the $328,561.45 deposit exceeded the $300,000 closing cash payment, Olenox withheld 285 preferred and 61 common shares and paid sellers no cash.
Analysis · OLOX · Trade & Services
Olenox closed the acquisition it flagged on August 19, but the definitive terms are what matter: $22.0M of consideration is 700,000 common shares at $1.00, 210,000 Series F preferred at a $100 stated value ($21.0M), and only $300,000 cash — which the $328,561 deposit already exceeded, so sellers got no cash at closing. The Series F converts at $1.00 per common share, roughly a third above today's $0.7549, and is capped at 19.9% of outstanding shares until stockholders approve under Nasdaq Rule 5635(d); a further $650,000 (or 650,000 shares) is payable across four 2027 installments. For a company that previously disclosed going-concern doubt and near-zero cash, buying revenue-generating gas and power assets without cash is the point — but the preferred sits ahead of common in liquidation and the conversion overhang lands on a micro-cap shareholder base.
How filings like this one have moved
In the 30 days to Oct 21, 2026, 37.2% of the 999 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.80%. 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, OLOX was trading at $0.75 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $1.2M. The 52-week trading range was $0.60 to $93.40. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.