Osteopore Limited (ASX:OSX) Secures A$20m with Convertible Notes
Funding Agreement Details
Osteopore Limited (ASX:OSX) has entered into a subscription agreement to issue A$20 million in redeemable convertible notes. This move follows shareholder approval on 23 December 2024. The agreement is with Advance Opportunities Fund and Advance Opportunities Fund I.
The notes, which have an aggregate nominal value of A$20 million, will be issued in four equal tranches. Each tranche will hold a nominal value of A$5 million. The company is actively working to meet the conditions for the initial tranche of notes.
Use of Proceeds
The funds raised from this issuance will support Osteopore’s ongoing business operations, future developments, and potential investments as opportunities arise. Additionally, funds will assist in the reduction of existing loans.
Company Overview
Osteopore Limited is a leader in 3D-printed biomimetic and bioresorbable implants, focusing on products that enhance natural bone healing across various sectors. The company utilises patented technology and naturally dissolving polymers to facilitate bone tissue growth, decreasing complications associated with traditional permanent implants.
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