Luxxfolio Holdings Inc ( (TSE:LUXX) ) has issued an announcement.
Luxxfolio Holdings Inc. has announced a proposed consolidation of its common shares, aiming to convert every ten pre-consolidation shares into one post-consolidation share. This move is expected to enhance the company’s flexibility in business development and financing arrangements. The consolidation is pending approval from the Canadian Securities Exchange and does not require shareholder consent. Additionally, Luxxfolio has decided to discontinue its previous private placement plans and intends to initiate a new post-consolidation private placement, aiming to raise up to $1.2 million by issuing 8 million common shares at $0.15 each. This strategic financial maneuver is designed to strengthen the company’s capital structure and support its growth ambitions.
More about Luxxfolio Holdings Inc
Luxxfolio Holdings Inc. operates in the financial sector, focusing on providing innovative solutions and services that enhance business development and growth opportunities. The company is involved in activities that require strategic financial management and market positioning.
YTD Price Performance: -25.00%
Average Trading Volume: 216,234
Technical Sentiment Consensus Rating: Hold
Current Market Cap: C$1.3M
For a thorough assessment of LUXX stock, go to TipRanks’ Stock Analysis page.