Olenox Industries Inc. (NASDAQ: OLOX) announced that it has converted more than $750,000 in outstanding debt and approximately $4.5 million in stated value of Series C Preferred Stock into common shares since June 2026, according to a press release from the Conroe, Texas-based company.

The debt conversions reduced the company's outstanding indebtedness by more than $750,000, while the preferred stock conversions reduced its outstanding preferred equity. In total, the transactions represent more than $5.25 million converted into common equity.

"Converting more than $5.25 million of debt and preferred stock into common equity is a meaningful accomplishment for Olenox and represents another important step in strengthening our financial foundation," said Michael McLaren, Chairman and Chief Executive Officer of Olenox Industries.

McLaren added: "We have been very deliberate about improving our capital structure while continuing to build and expand the Company. These conversions further simplify our capital structure and provide us with greater financial flexibility as we move forward with our growth strategy."

Olenox describes itself as an integrated energy and infrastructure company with operations across oil and natural gas, energy services, power generation, modular infrastructure, and digital compute sectors.