Osteopore Announces Further Drawdown of Convertible Notes
Key points
- Osteopore to issue additional A$500,000 in redeemable convertible notes
- Funds to be used for ordinary business operations and future developments
- Forward-looking statements subject to various risks and uncertainties
Full summary
Osteopore Limited, a Singapore-founded regenerative medicine company and a global leader in 3D-printed biomimetic and bioresorbable implants, has announced the further drawdown of Tranche 1 (T1) of its redeemable convertible notes facility. The company had previously entered into a subscription agreement with Advance Opportunities Fund and Advance Opportunities Fund I to issue up to A$20 million in redeemable convertible notes, comprising four equal tranches of A$5 million each. In the latest announcement, the company confirms that the subscribers have subscribed for an additional 2 equal sub-tranches (ST13 and ST14) of T1 Notes, totaling an aggregate nominal amount of A$500,000. The funds raised from the issue of the notes will be used for the ordinary course of business and/or future developments, projects, and investments as and when business opportunities arise. The company has cautioned that forward-looking statements in the announcement are subject to various risks and uncertainties, and actual events or results may differ materially from the events or results expressed or implied.
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