Olenox Industries Announces Liability Conversion in Settlement Agreement

Rhea-AI Summary

Olenox Industries (NASDAQ: OLOX) executed settlement agreements with CEO Michael McLaren that converted a convertible promissory note into common shares on Feb. 11, 2026 and exchanged 39,000 Series A preferred shares for 585,000 restricted common shares. The transactions settle all claims related to the Series A preferred shares and, according to the company, strengthen the balance sheet by converting debt to equity. Full terms are disclosed in a Form 8-K filed Feb. 18, 2026.

AI-generated analysis. Not financial advice.

Positive

• Convertible note converted to common shares on Feb. 11, 2026
• Exchange of 39,000 Series A preferred for 585,000 restricted common shares
• Transaction described as strengthening the balance sheet by converting debt to equity

Negative

• Issuance of 585,000 restricted common shares may dilute existing shareholders

News Market Reaction – OLOX

+12.31% 6.2x vol

44 alerts

+12.31% News Effect

+52.9% Peak Tracked

-16.1% Trough Tracked

+$772K Valuation Impact

$7.05M Market Cap

6.2x Rel. Volume

On the day this news was published, OLOX gained 12.31%, reflecting a significant positive market reaction. Argus tracked a peak move of +52.9% during that session. Argus tracked a trough of -16.1% from its starting point during tracking. Our momentum scanner triggered 44 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $772K to the company's valuation, bringing the market cap to $7.05M at that time. Trading volume was exceptionally heavy at 6.2x the daily average, suggesting very strong buying interest.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Preferred-for-common exchange: 39,000 Series A Preferred for 585,000 restricted common shares Conversion date: Feb. 11, 2026 8-K filing date: Feb. 18, 2026 +5 more

8 metrics

Preferred-for-common exchange 39,000 Series A Preferred for 585,000 restricted common shares Settlement between CEO and Olenox resolving Series A Preferred claims

Conversion date Feb. 11, 2026 Date CEO’s convertible promissory note converted into common shares

8-K filing date Feb. 18, 2026 Form 8-K disclosing settlement terms with CEO

Current price $0.9171 Price before publication; up 10.48% over prior 24h

52-week range $0.825 – $1.51 Low and high prior to this announcement

Pipeline length 162 miles Olenox wet gas pipeline under recommissioning as of Jan. 27, 2026

Transaction value $36 million Valuation of proposed Vivakor midstream business acquisition

Guaranteed EBITDA $4.56 million Annual EBITDA from take-or-pay guarantee in proposed acquisition

Market Reality Check

Price: $8.77 Vol: Volume 262,651 is below t...

low vol

$8.77 Last Close

Volume Volume 262,651 is below the 20-day average of 411,440 (relative volume 0.64). low

Technical Trading below 200-day MA at 1.15, with price 0.9171 between 52-week low 0.825 and high 1.51.

Peers on Argus

No peers from the same sector appeared in the momentum scanner; OLOX’s 10.48% mo...

No peers from the same sector appeared in the momentum scanner; OLOX’s 10.48% move appears stock-specific rather than sector-driven.

Historical Context

4 past events · Latest: Feb 13 (Positive)

Pattern 4 events

Date	Event	Sentiment	Move	Catalyst
Feb 13	Debt settlement	Positive	+0.7%	Settlement with Cedar Advance LLC using restricted common stock to satisfy obligations.
Feb 10	Board changes	Neutral	-2.8%	Appointment of two directors to fill vacancies and receive cash and equity compensation.
Jan 29	Acquisition LOI	Positive	-7.6%	Non-binding LOI to acquire Vivakor’s midstream business and Omega pipeline system.
Jan 27	Pipeline restart	Positive	+10.9%	Recommissioning 162 miles of wet gas pipeline targeting NGL and dry gas revenue.

Pattern Detected

Recent news often focuses on balance-sheet actions and strategic assets; price reactions have been mixed, with both positive and negative moves following generally constructive announcements.

Recent Company History

Over recent months, Olenox has reported several balance-sheet and strategic developments. A prior settlement with Cedar Advance LLC used restricted common stock to resolve merchant cash advance obligations (Feb. 10, 2026). Board changes were announced with two new directors appointed effective Feb. 6, 2026. Strategically, the company signed a non-binding LOI for a midstream acquisition valued at $36 million and began recommissioning 162 miles of wet gas pipeline. Today’s CEO liability conversion continues this theme of restructuring capital and debt.

Market Pulse Summary

The stock surged +12.3% in the session following this news. A strong positive reaction aligns with t...

Analysis

The stock surged +12.3% in the session following this news. A strong positive reaction aligns with the balance-sheet focus of this announcement, as the CEO converted a convertible promissory note and exchanged preferred shares for restricted common stock. Prior news also emphasized debt settlements and asset optimization, including a midstream acquisition LOI and pipeline recommissioning. Investors have sometimes rewarded such steps, but prior divergence on strategic news suggests sentiment can shift quickly as execution and dilution dynamics are evaluated.

Key Terms

convertible promissory note, series a preferred shares, restricted common shares, form 8k, +1 more

5 terms

convertible promissory note financial

"to convert a convertible promissory note held by McLaren into common shares"

A convertible promissory note is a loan a company takes now that can later be turned into shares instead of being repaid in cash. Think of it as lending money with the option to accept ownership in the business down the road; that matters to investors because it affects who gets paid first, how much ownership existing shareholders keep, and the company’s future valuation and cash needs. Terms such as conversion price, interest and maturity determine the financial impact.

series a preferred shares financial

"exchange 39,000 shares of Series A Preferred Shares held by McLaren"

Series A preferred shares are an early-stage class of ownership sold to investors that gives them special protections and payment priority over regular common stock. Think of them as a safer seat on a bus: if the company earns money or is sold, holders get paid before ordinary shareholders, and they often can convert to common shares later to share upside; that mix of safety and growth potential helps investors manage risk and reward.

restricted common shares financial

"for 585,000 restricted common shares."

Restricted common shares are company stock that cannot be freely sold or transferred until certain conditions are met, such as time-based vesting, performance targets, or regulatory clearance. For investors, they matter because they reduce the number of shares available to trade today but can increase supply later, affecting share price, liquidity and potential dilution — like a stash of coupons that can't be used until a future date.

form 8k regulatory

"disclosed in a Form 8K filing published Feb. 18, 2026"

A Form 8-K is a public filing that U.S. listed companies must submit quickly to disclose major, time-sensitive events—like leadership changes, sudden financial problems, deals, or legal issues—to the regulator that oversees public markets. Think of it as an official newsflash: investors use it to learn about developments that could change a company’s outlook or risk profile, and markets often react once new information in an 8-K becomes known.

securities and exchange commission regulatory

"with the Securities and Exchange Commission."

A national government agency that enforces rules for buying, selling and disclosing information about stocks and other investments, acting like a referee and scorekeeper for financial markets. It requires companies to share clear, regular financial and business information and investigates fraud or rule-breaking, which matters to investors because those rules and disclosures help ensure fair prices, reduce hidden risks and make it easier to compare investment choices.

AI-generated analysis. Not financial advice.

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CONROE, Texas, Feb. 19, 2026 (GLOBE NEWSWIRE) -- via IBN – Olenox Industries Inc. (NASDAQ: OLOX) ("Olenox" or the "Company") today announced a settlement agreement has been executed between Olenox CEO Michael McLaren and the Company to convert a convertible promissory note held by McLaren into common shares on Feb. 11, 2026, to settle the balance due under the Note in full.

Separately, Olenox Industries Inc. executed a settlement agreement with McLaren to exchange 39,000 shares of Series A Preferred Shares held by McLaren for 585,000 restricted common shares. The agreement resolves any and all claims, actual or potential, in regard to McLaren’s Series A Preferred Shares.

“We continue to strengthen our balance sheet by converting debt to equity,” said Tricia Kaelin, Olenox Chief Financial Officer. “This transaction conveys the commitment of our CEO to the company and his vision for the future."

Full terms of the settlement agreements are disclosed in a Form 8K filing published Feb. 18, 2026, with the Securities and Exchange Commission.

About Olenox Industries Inc.

Olenox Industries is a multifaceted energy company focused on acquiring, operating, and scaling businesses that provide engineered solutions across industrial, energy, and infrastructure markets. Through its subsidiaries, including Giant Containers, the Company delivers high-quality containerized systems designed for rapid deployment and long-term performance.

Investors:
investors@olenox.com

Corporate Communications
IBN
Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000 Office
Editor@InvestorBrandNetwork.com

FAQ

What did Olenox (OLOX) announce on Feb. 19, 2026 regarding CEO Michael McLaren?

Olenox announced settlement agreements converting debt and preferred shares into common stock. According to the company, a convertible note was converted to common shares on Feb. 11, 2026 and 39,000 Series A preferred were exchanged for 585,000 restricted common shares.

How many common shares did Olenox (OLOX) issue in the preferred-share exchange?

Olenox issued 585,000 restricted common shares in exchange for Series A preferred. According to the company, the exchange converted 39,000 Series A preferred shares into 585,000 restricted common shares and resolved related claims.

When was the convertible promissory note converted into common shares for OLOX?

The convertible promissory note was converted into common shares on Feb. 11, 2026. According to the company, this conversion settled the balance due under the note in full as part of the settlement agreements.

Does the Olenox (OLOX) settlement affect the company’s balance sheet?

The company says the settlements strengthen the balance sheet by converting debt to equity. According to the company, converting the note and exchanging preferred for common reduces debt obligations and reflects CEO commitment to the company.

Where can investors find full terms of Olenox (OLOX) settlement agreements?

Full settlement terms are disclosed in a Form 8-K filed with the SEC on Feb. 18, 2026. According to the company, the Form 8-K contains the detailed terms of the note conversion and the preferred-for-common exchange.