Osteopore Limited (ASX:OSX) Announces Convertible Notes Offering
Convertible Notes Offering
Osteopore Limited has announced an offer of 400 convertible notes, each with a face value of $50,000, aiming to raise an aggregate of up to $20 million. The offering includes Commitment Shares issued as a commitment fee. Applications for the securities are open from 12 February 2025 to 17 February 2025 and are targeted exclusively to Advance Opportunities Fund.
Subscription Agreement
Under the subscription agreement, Osteopore will pay a $50,000 commitment fee to the noteholders, based on the volume weighted average price of the shares for five trading days prior to the closing date. The funds raised will be utilised for ongoing business operations, future projects, and potential reductions in loans.
Financial Impact
The pro-forma balance sheet shows a significant increase in cash from $2.22 million to over $21 million, alongside an increase in liabilities from $2.74 million to $22.74 million. This capital injection is expected to support Osteopore’s expansion and operational needs.
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