Revasum (ASX: $RVS) strategic process update

Revasum, Inc. (ASX: $RVS) has announced the extension of the voluntary suspension of the Company's CDIs for up to a further two weeks as it continues to pursue its strategic process. The Company's investment bank, B Riley Financial, has received multiple indications of interest with respect to a potential acquisition of the Company. However, at least one party has indicated it would need another week or two before it can complete its due diligence with a goal of presenting an indicative offer to the Company.

Executive commentary on strategic process and financing

The Company has agreed to give additional time to the party needing more time for due diligence. The strategic process may or may not result in acceptable indicative offers or a successful transaction, but the Company believes it is in the best interests of all shareholders to pursue the process. The Company is also streamlining its cost structure, experiencing delays in receiving payments from customers, and working on securing additional financing and renegotiating default forbearance terms with its creditors. The voluntary suspension is expected to remain in place until the Company makes an announcement concerning funding, updates to the strategic process for the business, and/or other material updates.

Summary of Revasum's strategic process and financing update

Revasum (ASX: $RVS) has extended the voluntary suspension of its CDIs as it continues to pursue its strategic process, including potential acquisition interests and securing additional financing. The Company is focused on streamlining its cost structure, addressing delays in customer payments, and renegotiating default forbearance terms with its creditors. The voluntary suspension is expected to remain in place until the Company makes announcements concerning funding, updates to the strategic process, and/or other material updates. The Company believes that the strategic process and securing additional financing are critical to its continued financial viability.