RENX exchanges $1.45M debt to insider for convertible preferred stock and warrants

On September 30, 2026, RENX exchanged $1,446,774 in principal and accrued interest owed to Director James D. Burnham for 1,441 Series D Convertible Preferred Shares (convertible to ~498k common shares at $2.895 each) and warrants to purchase ~124k additional shares. This is a debt-for-equity restructuring with a related party that increases share dilution and signals prior financial stress, but the transaction itself is now completed and disclosed rather than pending.

A company with cash problems converted a $1.45 million debt owed to an insider into preferred stock and stock warrants, which means more shares could be issued to the debtholder if prices rise or if the stock declines below a floor price.