Olenox Industries Inc. completed a Second Closing under its November 25, 2025 Securities Purchase Agreement, issuing 900 shares of Series C Convertible Preferred Stock with $900,000 Stated Value for $810,000 gross proceeds ($718,300 net after fees). The shares are convertible into common stock and sold in reliance on Section 4(a)(2) and Rule 506(b) exemptions, with a new Registration Rights Agreement requiring SEC resale registration within 30 days.
Key takeaways
Issued 900 shares of Series C Convertible Preferred Stock on March 12, 2026
Aggregate Stated Value of $900,000 for aggregate purchase price of $810,000
Net proceeds of approximately $718,300 after 7.0% placement agent commission to WestPark Capital Inc.
Entered Additional Registration Rights Agreement dated March 12, 2026 for resale registration
Exempt from registration under Section 4(a)(2) of Securities Act and Rule 506(b) of Regulation D
Rights same as initial Series C shares per Certificate of Designation filed November 26, 2025