RenX Swaps $1.02M Note for New 10% Convertible Plus 644,944 Warrants
RENX is trading near its 52-week low of $0.837 (10% above the low) on light trading volume (0.2× avg).
Summary
RenX exchanged $1.02M of convertible debt for a new $1.04M 10% convertible note plus 644,944 warrants, adding a discounted-conversion overhang that requires a shareholder vote within 120 days.
Key Events · Financing and Capital Events · RENX
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Debt Swapped for Larger Convertible Note
RenX exchanged $1,022,971.22 of principal and accrued interest under its February 12, 2026 senior convertible note for a new note with $1,037,283.93 principal — 110% of the old note's outstanding principal — plus a warrant for 644,944 shares.
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Discounted Alternate Conversion Terms
The new note converts initially at $2.895, but after stockholder approval the holder can convert at the greater of a $0.534 floor or 92% of the 10-day VWAP — a floor roughly 42% below today's $0.924 price, so conversions would issue shares at a discount.
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Shareholder Vote Required Within 120 Days
RenX must hold a special meeting within 120 days of November 2, 2026 to approve issuance of the alternate conversion shares; failing to hold the meeting is an event of default under the note.
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Potential Share Overhang Quantified
Assuming 12 months of 10% accrued interest, about 394,133 shares would be issuable at the $2.895 initial conversion price, or 644,944 shares at the $0.534 floor, on top of the 24.3 million shares already registered for resale in October.
Analysis · RENX · Energy & Transportation
Rather than paying off a matured convertible note, RenX rolled it into a larger one. The new note carries $1,037,283.93 principal — 110% of the $1,022,971.22 outstanding — plus a warrant for 644,944 shares at $2.67. The real cost lies in the alternate conversion feature: once shareholders approve, the note converts at 92% of the 10-day VWAP, down to a $0.534 floor. With the stock at $0.924, that floor sits roughly 42% below today's price, so conversions would issue shares at a discount and dilute existing holders. The company must hold a stockholder meeting within 120 days, and missing that deadline is itself an event of default. This stacks on top of the 24.3 million shares already registered for resale in October and the going-concern doubt disclosed in the Q2 10-Q — the balance sheet is being kept alive with paper, not cash.
How filings like this one have moved
In the 30 days to Nov 6, 2026, 35.1% of the 2636 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. 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, RENX was trading at $0.92 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $3.2M. The 52-week trading range was $0.84 to $24.60. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.