Osteopore's A$20m fundraising through redeemable convertible note issue

Osteopore Limited (ASX:OSX) has announced its plan to raise A$20 million through the issuance of 4% redeemable convertible notes (RCNs) to Advance Opportunities Fund and Advance Opportunities Fund I. The funds raised will be utilized for business purposes and future developments, subject to shareholder and regulatory approvals.

Executive Chairman Mark Leong on growth opportunities

In the past 18 months, our commercialization efforts have delivered six consecutive quarters of revenue growth, with our bioresorbable implants now used in more than 120,000 surgeries. Our exclusive distribution agreement with Zimmer Biomet not only validates our regenerative technology but also strengthens our market position. Osteopore has demonstrated and remains committed to expanding our business, securing further regulatory approvals, and advancing our regenerative capabilities, paving the way for sustained growth. Unlike traditional funding methods, the RCN can provide us with the flexibility and financial agility to drive our plans forward, aligning with our current growth stage and future ambitions.

Summary of Osteopore's A$20m fundraising announcement

Osteopore Limited (ASX:OSX) has entered into a term sheet to raise A$20 million through the issuance of 4% redeemable convertible notes (RCNs) to Advance Opportunities Fund and Advance Opportunities Fund I. The funds raised will be used for business purposes, future developments, projects, and investments, subject to shareholder and regulatory approvals. The company's Executive Chairman, Mark Leong, highlighted the growth opportunities that the RCN could unlock, emphasizing the company's commitment to expanding its business, securing regulatory approvals, and advancing its regenerative capabilities. Osteopore aims to utilize the RCN to drive its plans forward, aligning with its current growth stage and future ambitions.