BANXA Holdings Inc (TSX-V:BNXA, OTCQX:BNXAF) has revealed plans to raise up to C$6 million to support its fintech efforts.
The firm will raise the proceeds through convertible debenture units.
Under the terms of the placement, each unit will consist of one unsecured convertible debenture and common share purchase warrants equal to 40% of the number of common shares (issuable upon conversion of the note.
The warrants will be exercisable for one common share at C$1 per share for a period of 36 months from the date of issuance.
The notes will have a maturity date of 36 months from the date of issuance, and the holder may choose to convert any principal amount into shares at a conversion price of C$0.80 per and accrue interest at a rate of 10% per annum, payable in cash on a monthly basis until redeemed.
Banxa said that proceeds from the financing will be utilized to repay senior secured debt and support general working capital and corporate needs.
Banxa is a global fintech company based in Melbourne, Australia, with European headquarters in Amsterdam, the Netherlands. It specializes in powering major digital asset platforms worldwide by offering payments infrastructure and ensuring regulatory compliance across diverse markets.
The company provides both payment services and regulatory technology (RegTech) solutions for cryptocurrency exchanges, DeFi platforms, and digital asset wallets. Their services enable users to easily and securely convert fiat currency to cryptocurrencies and vice versa.