Olenox Files CS Digital Financials: $52.1M Deal, $20.6M Revenue, $15.2M Debt Extinguished
OLOX is trading near its 52-week low of $2.97 (6.4% above the low) on light trading volume (0.1× avg).
Summary
Olenox Industries filed audited financials for its CS Digital Ventures acquisition, revealing $20.6M in 2025 revenue, a $15.2M debt-to-equity conversion, and a pro forma combined net loss of $20.7M. The total deal value is $52.1M including warrants and earnouts.
Key Events · M&A and Partnerships · OLOX
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CS Digital Financials Disclosed
CS Digital generated $20.6M in revenue in 2025 but posted a net loss of $1.6M. As of March 31, 2026, it held $1.9M in cash and $0.6M in bitcoin, with $27.3M in mining equipment.
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Full Deal Value at $52.1M
Total consideration includes $14M in Series D Preferred Stock, a $16M Seller Note, warrants for 1.5M common shares valued at $6.7M, and up to $20M in earnout shares (fair value $15.4M).
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Debt Extinguished Pre-Acquisition
CS Digital's $15.2M related-party loan was converted to equity in April 2026, removing that liability from the acquired balance sheet but diluting CS Digital's members.
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Pro Forma Combined Losses Deepen
Pro forma combined net loss for 2025 is $20.7M, up from Olenox's standalone $18.8M loss, driven by CS Digital's operating losses and interest on the new Seller Note.
Analysis · OLOX · Trade & Services
This amendment delivers the first audited financials for CS Digital and pro forma combined statements, filling critical gaps left by the initial acquisition announcement. In 2025, CS Digital generated $20.6 million in revenue but still posted a net loss, and its $15.2 million loan was converted to equity just before the deal closed. The pro forma combined entity reveals a heavily leveraged balance sheet—$59.3 million in liabilities against just $28.9 million in equity—and a combined net loss of $20.7 million for 2025. With the full consideration now quantified at $52.1 million, including warrants and earnouts, the dilutive impact comes into sharper focus. For a company already under going-concern pressure, these numbers confirm that the acquisition adds scale but also significant financial complexity and risk.
How filings like this one have moved
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At the time of this filing, OLOX was trading at $3.16 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $4.5M. The 52-week trading range was $2.97 to $249.54. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.