Borg Bjarne Erik Siwert 4
4 · RenX Enterprises Corp. · Filed Jun 15, 2026
Research Summary
AI-generated summary of this filing
RenX (RENX) Director Borg Siwert Receives Series C Preferred & Warrants
What Happened
- Borg Bjarne Erik Siwert, a RenX director (and manager of Index Equity US LLC), received 7,169 shares of Series C Convertible Preferred Stock and a warrant to buy up to 619,084 common shares. The securities were issued on June 11, 2026 in exchange for $7,169,072.79 of principal and accrued interest owed under a promissory note held by Index Equity. The board approved the exchange. The Form 4 reports these as acquisitions (transaction code A) of derivative securities (no per-share trade price for the preferred or warrant).
Key Details
- Transaction date: June 11, 2026; Form 4 filed June 15, 2026 (filed within the standard 2-business-day window).
- Consideration: $7,169,072.79 of debt (principal + interest) exchanged for the Series C preferred shares and the warrant.
- Securities received: 7,169 shares of Series C Convertible Preferred Stock; warrant exercisable for up to 619,084 common shares.
- Conversion/exercise mechanics: Series C preferred initially convertible into an aggregate of 2,476,338.51 common shares at $2.895/share (conversion price adjustable, but not below $1.50/share); warrants exercisable at holder’s election. Neither conversion nor exercise will be effective if Nasdaq stockholder approval is required and not yet obtained.
- Series C preferred does not expire.
- Ownership disclosure: Siwert is manager of Index Equity; he disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.
- Shares owned after transaction: Not specified in the filing.
Context
- This was a debt-for-equity exchange (Index Equity’s note converted into preferred stock + warrants) — a financing/recapitalization move rather than an open-market buy or sale by the individual. Because these are derivative securities, actual common shares will only be issued if/when conversion of the preferred or exercise of the warrants occurs (and may require shareholder approval under Nasdaq rules).
Insider Transaction Report
Form 4
Borg Bjarne Erik Siwert
Director
Transactions
- Award
Series C Convertible Preferred Stock
[F1][F2][F3][F4][F5]2026-06-11+7,169→ 7,169 total(indirect: By LLC)Exercise: $2.90From: 2026-06-11→ Common Stock (2,476,338 underlying) - Award
Warrant
[F2][F3][F5]2026-06-11+619,084→ 619,084 total(indirect: By LLC)Exercise: $2.90From: 2026-06-11Exp: 2031-06-11→ Common Stock (619,084 underlying)
Footnotes (5)
- [F1]The shares of Series C Convertible Preferred Stock ("Series C Preferred Stock") held by the Reporting Person are initially convertible into an aggregate of 2,476,338.51 shares of the Issuer's common stock at a price of $2.895 per share; provided, however, that the conversion price is subject to adjustment in certain circumstances, to a price not to fall below $1.50 per share, including in the event the Issuer sells or issues securities at a price that is less than $2.895 per share while the shares of Series C Preferred Stock are outstanding, which may result in the issuance of additional shares of common stock upon conversion of the shares of Series C Preferred Stock.
- [F2]On June 11, 2026, the Issuer and Index Equity US LLC ("Index Equity"), an entity controlled by the Reporting Person, entered into an exchange agreement, pursuant to which $7,169,072.79 of principal and accrued interest outstanding owed under a promissory note held by Index Equity was exchanged for 7,169 shares of Series C Preferred Stock and a common stock purchase warrant to purchase up to 619,084 shares of the Issuer's common stock. The exchange agreement and the exchange of the promissory note for the shares of Series C Preferred Stock and the warrant were approved in advance by the Issuer's board of directors.
- [F3]The shares of Series C Preferred Stock are convertible into shares of common stock and the Warrants are exercisable for shares of common stock at any time at the election of the holder; provided, however, that, to the extent required by the rules and regulations of the Nasdaq Stock Market, LLC, no shares of Series C Preferred Stock shall be convertible into shares of common stock and no Warrants shall be exercisable for shares of common stock unless and until stockholder approval of such conversions and exercises, respectively, is obtained.
- [F4]The shares of Series C Preferred Stock do not expire.
- [F5]The Reporting Person is the manager of Index Equity. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
Signature
/s/ Nicolai Brune, Attorney-In-Fact|2026-06-15