Mineral resources development and emerging technologies firm HXPN Inc (OTCMKTS:HXPN) has been in focus among investors over the course of the past month and during the period, its stock has also made a steady upward move.
Market Action
On Thursday, HXPN stock ended flat at $0.0795 with more than 101k shares, compared to its average volume of 50k shares. The stock has moved within a range of $0.0795 – 0.0795 after opening the trade at $0.0800.
To Raise Funds as Debt
During that period, the HXPN stock has managed to clock gains of as much as 13% and in light of that, it might be the right time for investors to take a closer look at it. There has been no news about the company in the past month but back on September 27 this year HXPN had made a major announcement.
HXPN announced that OPUS AMDG Inc sent in a letter of commitment with regards to the raising of debt capital to the tune of as much as $500 million. It was also pointed out that the debt capital was going to be raised by way of a Global Note that was going to be issued by OPUS.
The raising of debt capital was an important announcement since HXPN noted at the time that it was going to use the fresh capital for the purpose of making a range of equity investments. At this point, investors could do well to keep an eye on any news that might emerge about HXPN.
Key Quote
“We are very excited to have this major hurdle cleared in finding the right partner to assist HXPN with its capital needs,” said Steve Bailey, President and CEO of HXPN. “OPUS understands what we are doing and they see the value associated with our investment plans. Additionally, OPUS has the right partners in place to make this process as seamless as possible, including assistance in the sourcing of bridge funding that will allow our projects to start immediately. OPUS is a one-stop shop, and we like that,” added Bailey.
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