AI assistant
OSTEOPORE LIMITED — Capital/Financing Update 2024
Apr 9, 2024
65512_rns_2024-04-09_ae19bea6-696b-4d41-87a0-445ce44fc0de.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ASX ANNOUNCEMENT
10 April 2024
Osteopore extends Bridging Loan maturity date
Australian-Singaporean regenerative medicine company Osteopore Limited ( ASX: OSX ; Osteopore or the Company ) – a global leader in 3D-printed biomimetic and bioresorbable implants – wishes to provide an update on the S$1,000,000 bridging loan agreement with Advance Opportunities Fund I ( Lender ), announced to ASX on 28 December 2023[1] ( Bridging Loan ).
The maturity date of the Bridging Loan was ninety (90) calendar days from the disbursement date. The Company has entered a variation deed on 9 April 2024 with the Lender to extend the maturity date of the Bridging Loan to 1 May 2025 ( Variation Deed ).
The Bridging Loan interest rate under the Variation Deed has changed from 3% per month in the initial three months, 4% per month in the fourth month and 5% per month in the fifth month and thereafter, to 3% per month calculated on a daily rest basis and payable on the first business day of each month.
Notwithstanding any other provisions to the Variation Deed, the Company has the option to make early repayments to the Bridging Loan at any time. Other Bridging Loan terms and conditions remain unchanged.
Osteopore CEO Dr Lim Yujing said:
“Securing the loan extension on slightly improved terms is important as it allows the Company the flexibility of additional time to repay the loan with lower costs as compared to the original terms. Additionally, the Company has the option of repaying early, which would then further reduce additional costs of the loan.
We would like to thank shareholders for their continued support as we build the capital base of the Company to support our increasing commercial traction.”
ENDS
1 ASX Announcement dated 28 December 2023 “Osteopore signs Bridging Loan agreement”
==> picture [561 x 88] intentionally omitted <==
ASX ANNOUNCEMENT
This announcement dated 10 April 2024 has been authorised for release to the ASX by the Board of Osteopore Limited .
For more information, please contact:
Dr. Yujing Lim Isaac Stewart CEO & CTO Media & Investor Relations Osteopore Limited Cannings Purple E: [email protected] E: [email protected]
About Osteopore Limited
Osteopore Limited is a Singapore-founded regenerative medicine company and a global leader in 3D-printed biomimetic and bioresorbable implants.
The Company seeks to commercialise products that stimulate natural bone healing across multiple segments.
Osteopore creates patented scaffolds using 3D-printed biomimetic and bioresorbable materials to guide and nurture bone-forming cells.
Through our proprietary manufacturing process – which uses a naturally dissolving polymer – our patented scaffolds enable bone tissue growth, significantly reducing the post-surgery complications commonly associated with permanent bone implants.
==> picture [561 x 89] intentionally omitted <==
==> picture [561 x 89] intentionally omitted <==
==> picture [561 x 89] intentionally omitted <==
==> picture [561 x 88] intentionally omitted <==