OLENOX INDUSTRIES INC. 8-K

What Happened
Olenox Industries Inc. (OLOX) filed an 8-K on March 13, 2026 reporting an Additional Closing under a previously disclosed Securities Purchase Agreement. On March 12, 2026 the company issued and sold 900 shares of its Series C Convertible Preferred Stock (aggregate stated value $900,000) for total gross proceeds of $810,000. The Series C preferred shares have the same rights and convert into common stock at a conversion price subject to adjustment under the Certificate of Designation.

Key Details

• Additional Closing date: March 12, 2026; 900 Series C Preferred shares issued (Stated Value $900,000).
• Purchase price: $810,000 (approximately $900 received per $1,000 of stated value).
• Net proceeds to Olenox: approximately $718,300 after a 7.0% placement agent commission (WestPark Capital Inc.) and other offering expenses.
• Registration Rights Agreement dated March 12, 2026: Olenox must file an SEC registration statement to cover resale of shares issued upon conversion within 30 days of the Additional Closing and have it declared effective within the timing set by the agreement (extensions possible for SEC review).
• Securities were sold in a private placement relying on Section 4(a)(2) and Rule 506(b) exemptions.

Why It Matters
This transaction provides Olenox with near-term cash (net ≈ $718K) to fund operations or other needs. The issued Series C shares are convertible into common stock, which could increase the number of outstanding common shares if converted — an important dilution factor for current shareholders. The company’s agreement to register the underlying common shares for resale is intended to allow the investor to sell converted shares in the public market once the registration is effective. Investors should watch for the company’s required registration filing and any future conversions or additional closings under the Purchase Agreement.