BioNxt Solutions Closes Final Tranche of Convertible Debenture Offering

BioNxt Solutions Inc. has announced the closure of its final tranche in a non-brokered private placement of convertible debenture units. The company has issued a total of 5,000,000 units across two tranches, raising $2,500,000 in gross proceeds. The final tranche contributed $900,000 with 1,800,000 units.

Each unit includes $0.50 principal amount of 8.0% unsecured convertible debentures and one common share purchase warrant. Warrants are priced at $0.60 and are exercisable for two years. Debentures can be converted into common shares at $0.50 before maturity.

BioNxt plans to invest the proceeds in product development, commercialization, and other corporate activities. The securities from both tranches have a statutory hold period until July 15, 2025.