Nixxy Provides Business Update, Including Contract Developments and Regulatory Filing Withdrawal

Rhea-AI Summary

Nixxy (NASDAQ:NIXX) has announced key business updates regarding its contract with Mexedia SpA and regulatory filings. The company projects revenue generation from the Mexedia Contract to commence in March 2025, with an anticipated monthly revenue run rate of $25-27 million as operations scale, subject to market conditions and execution.

Additionally, Nixxy has voluntarily withdrawn its Form S-1 Registration Statement (File No. 333-283625) filed on December 5, 2024. The withdrawal decision was made in shareholders' best interests as the additional facility is no longer required. No securities were sold in connection with the Registration Statement, which had not been declared effective by the SEC.

Positive

• Projected monthly revenue of $25-27M from Mexedia contract starting March 2025
• Strategic withdrawal of S-1 Registration Statement prevents potential shareholder dilution

Negative

• Revenue projections subject to market conditions and execution risks

NEW YORK CITY, NY / ACCESS Newswire / February 27, 2025 / Nixxy (Nasdaq:NIXX), the "Company," today provided a business update, including developments related to its recently announced contract with Mexedia SpA (the "Mexedia Contract") and the utilization of newly acquired technology assets.

Projected Revenue Contribution Beginning in March

The Company believes it will begin generating revenue from the Mexedia Contract in March 2025, marking a significant step forward in its growth strategy and expansion plans. The Company anticipates that, as it scales operations in this business line, it can achieve a projected monthly revenue run rate of approximately $25-27 million, subject to market conditions, and continued execution. Actual results may vary due to market conditions, operational factors, and other risks. The Company is committed to executing its growth strategy and capitalizing on its newly acquired technology to accelerate long-term value creation and market positioning.

Withdrawal of Form S-1 Registration Statement

On February 26, 2025, the Company also voluntarily withdrew its Registration Statement on Form S-1, filed on December 5, 2024, File No. 333-283625 (the "Registration Statement"). The Company believes that withdrawing the Registration Statement is in the shareholders' best interests, as the additional facility is no longer needed. The United States Securities and Exchange Commission has not declared the Registration Statement effective. No securities were sold in connection with the transactions contemplated by the Registration Statement.

About Nixxy
Nixxy, Inc. (Nasdaq:NIXX) is committed to transforming traditional markets through cutting-edge technology and data-driven insights. By acquiring cornerstone businesses in established industries and evolving their operations with innovation, Nixxy unlocks new potential and creates opportunities for transformative growth. The company focuses on sectors poised for digital innovation, leveraging data and technology to disrupt conventional business models and drive progress.

Contact Information
Investor Relations
Nixxy
ir@nixxy.com
https://www.nixxy.com

Forward-Looking Statements Disclaimer

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, those regarding the Company's business strategy, future operations, acquisition strategy, financial position, potential growth, spin-out transactions, and market opportunities.

Forward-looking statements are based on current expectations, estimates, and projections, and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. These risks and uncertainties include, but are not limited to, market conditions, business execution, integration of new assets, regulatory developments, and other risk factors described in the Company's filings with the Securities and Exchange Commission, including its most recent reports on Form 10-K and Form 10-Q.

Words such as "anticipates," "believes," "expects," "intends," "plans," "may," "will," and similar expressions are intended to identify forward-looking statements, but the absence of these words does not mean a statement is not forward-looking.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

No Offer or Solicitation Disclaimer
This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Risk Factors
Investors should carefully consider the risks, uncertainties, and assumptions associated with the Company's business, including the execution risks related to entering a new line of business and integrating recently acquired software. The Company currently has no revenue from the telecommunications line of business, and its ability to generate revenue and achieve profitability in this area depends on the successful execution of its business strategy, including the commercialization of its newly acquired technology, customer adoption, and operational scaling. There is no guarantee that the Company will be able to effectively integrate the acquired software, develop a viable market for its offerings, or realize anticipated synergies. The Company also faces risks related to market conditions, competition, evolving industry standards, and regulatory developments, which could impact its growth prospects. Additionally, the planned spin-out transaction involves uncertainties regarding timing, regulatory approvals, and overall market reception. Financial and liquidity risks, including the availability of capital and access to financing, may also affect the Company's ability to support this business expansion. These and other risks are detailed in the Company's filings with the U.S. Securities and Exchange Commission, including its most recent reports on Form 10-K and Form 10-Q. Actual results may differ materially due to known and unknown factors, and investors are urged to review the Company's SEC filings and conduct their own due diligence before making investment decisions.

Trademarks and Intellectual Property
All trademarks, service marks, and trade names used in this press release are the property of their respective owners.

SOURCE: Nixxy, Inc.

View the original press release on ACCESS Newswire

FAQ

What is the expected monthly revenue from Nixxy's (NIXX) Mexedia contract?

Nixxy projects a monthly revenue run rate of $25-27 million from the Mexedia contract, starting March 2025, subject to market conditions.

Why did Nixxy (NIXX) withdraw its Form S-1 Registration Statement?

Nixxy withdrew the S-1 Registration Statement as the additional facility is no longer needed, deemed in shareholders' best interests.

When will Nixxy (NIXX) start generating revenue from the Mexedia contract?

Revenue generation from the Mexedia contract is expected to begin in March 2025.

Were any securities sold under Nixxy's (NIXX) withdrawn S-1 Registration?

No securities were sold in connection with the withdrawn S-1 Registration Statement.