Abaxx Technologies Secures Strategic Investment Boosting Market Infrastructure Development

  • 11. January 2024

January 11, 2024 [crocon media – msch] Abaxx Technologies Inc. (NEO:ABXX)(OTCQX:ABXXF), a financial software and market infrastructure company, recently announced the successful closure of its equity private placement, raising a substantial US$27,323,013. This strategic financial move, involving the issuance of preferred and ordinary shares, marks a significant milestone for the company, particularly in its efforts to develop smarter markets for energy transition-related commodities in Singapore.

The involvement of globally recognized strategic partners like Cboe, TLW, and Traxys in the Preferred Shares is a strong endorsement of Abaxx Technologies’ market potential. These partnerships could provide valuable industry insights and connections, enhancing the company’s market positioning.

The capital raised will support the launch and development of Abaxx Exchange and Clearinghouse. This is crucial for a company in its development stage, as it provides the necessary resources for growth and expansion.

The structure of the Preferred Shares, with conversion and put rights, offers flexibility and potential future benefits to both the investors and the company. The pre-emptive rights in future capital raising could help maintain strategic alignments and investor confidence.

The possibility of strategic partners nominating a director to the Abaxx Singapore board, subject to regulatory approval, could bring additional expertise and governance benefits to the company.

Abaxx Technologies’ recent equity private placement represents a significant step forward in its quest to develop smarter markets for commodities. The strategic partnerships and capital infusion bode well for the company’s future, although it must navigate the typical challenges faced by development-stage companies in a dynamic and regulated industry.

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