Streamex Corp. 8-K

What Happened

• Streamex Corp. (STEX) filed an 8-K (Feb 13, 2026) reporting that YA II PN, Ltd. converted $15,000,000 of secured convertible debentures on Feb 6, 2026 at $4.00/share, resulting in issuance of 3,750,000 common shares under an effective Form S-3 registration statement.
• After the conversion period ended, Streamex prepaid the remaining Yorkville Debentures in cash for an aggregate payoff of $38,902,740 (consisting of $35,000,000 principal, $3,500,000 prepayment premium and $402,740 accrued interest), satisfying the debentures and releasing the related security interests.
• The company also announced on Feb 9, 2026 that Morgan Lekstrom, co‑founder and current Chairman, has been appointed Executive Chairman; any material changes to his compensation have not yet been determined (the company will amend the report if required).
• Separately, on Feb 13, 2026 Streamex filed a prospectus supplement to register for resale 2,443,750 shares previously issued to Terra Capital Natural Resources Fund Pty Ltd. (issued Dec 11, 2025).

Key Details

• $15,000,000 of debenture principal converted into 3,750,000 shares at $4.00/share (conversion elected Feb 6, 2026).
• $38,902,740 total cash payoff to retire remaining debentures: $35,000,000 principal + $3,500,000 prepayment premium + $402,740 accrued interest.
• Debentures satisfied and related security interests released upon payment in full.
• Morgan Lekstrom named Executive Chairman (announced Feb 9, 2026); compensation changes TBD.
• Prospectus supplement filed to register resale of 2,443,750 shares (filed Feb 13, 2026).

Why It Matters

• The company eliminated the Yorkville secured convertible debt and associated security interests, removing that liability from the capital structure.
• The conversion and resale registrations increase the number of shares potentially available for trading (3,750,000 newly issued via conversion; 2,443,750 shares registered for resale), which is a dilutive factor investors should note.
• The cash payoff included a significant prepayment premium ($3.5M), which reduced cash by about $38.9M — relevant to Streamex’s near-term liquidity and capital allocation.
• Leadership change (appointment of the co‑founder as Executive Chairman) is material corporate governance news; any future disclosure of compensation changes will be filed if required.