NEXION Group Ltd (NNG: ASX), an Australian company that integrates software, compute, storage, network and cyber security to deliver reliable and robust hybrid-cloud systems and owns a 2MW data centre in Perth, today announced the issue of 800,000 convertible notes at $0.10 each, raising a total of $80,000. These notes were issued to Wong Chi Wai Roy on August 12, 2025. Following this issuance, the total number of convertible notes at $0.10 each now stands at 16,600,000.
The company specified that the purpose of this issue is to secure funds for covering costs associated with identifying and progressing a suitable transaction. The convertible notes, all issued with the same terms and conditions, are unsecured and will mature on May 31, 2026. They accrue interest at an annual rate of 10%, payable upon maturity, conversion, or early repayment at NEXION’s discretion.
Nexion retains the option to repay the convertible notes in cash before the maturity date. The notes are convertible into ordinary shares in NEXION, along with free-attaching options, subject to shareholder approval and ASX not raising objections. The conversion is also contingent on either the cancellation of a proposed acquisition first announced on April 23, 2024, or the transaction not occurring by the maturity date. On conversion, the noteholder will receive shares calculated at a rate of the total face value of the convertible notes divided by $0.10, plus 4.25 options for every share issued.
At this stage, NEXION anticipates that the convertible notes will be repaid in full with cash, and no conversion securities will be issued. The announcement was authorized by the Board of NEXION Group Ltd.
