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DelphX Capital Markets Inc. (DPXCF) is a technology and financial services company specializing in structured products for the fixed income market. Through Quantem LLC, DelphX enables dealers to offer new private placement securities that optimize credit risk transfer and enhance returns. The company recently announced the grant of stock options to eligible participants under its stock option plan. DelphX is expanding its operations with the creation of an in-house sales team to launch a Credit Rating Security (CRS) product, allowing bond holders and traders to position against rating changes on existing bonds. Industry veteran Barry Finklestein has joined as a consultant to aid in the commercialization of proprietary credit products. DelphX has also entered into an agreement with Castle Placement, LLC to accelerate the market exposure and usage of the CRS product. Additionally, the company has engaged ICP Securities Inc. to provide automated market making services.
DelphX Capital Markets has announced a non-brokered private placement of 2,625,000 units at C$0.08 per unit, aiming to raise gross proceeds of C$210,000. Each unit includes one common share and one common share purchase warrant, allowing the purchase of an additional share at C$0.20 within five years of issuance. The offering is pending approval from the TSX Venture Exchange and will be subject to a hold period of four months and one day. Insiders may partake in this offering, complying with the company's insider trading policy. The raised funds are intended for general corporate purposes.
DelphX Capital Markets has engaged ICP Securities for automated market making services, utilizing ICP's proprietary algorithm, ICP Premium™, compliant with TSX Venture Exchange and other regulations. ICP will receive C$7,500 monthly, paid in advance. The agreement covers an initial four-month term, with automatic monthly renewals unless a 30-day notice is provided. No performance factors, stock options, or other compensation are included. ICP's activities aim to correct imbalances in the supply and demand of DelphX shares, and it will bear its own trading costs. ICP is an arm's length party specializing in liquidity provision and automated market making, established in 2023.
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