TruSpine Technologies Plc

Management Reports • Feb 8, 2023

National Storage Mechanism | Additional information

RNS Number : 2324P

TruSpine Technologies PLC

08 February 2023

8 February 2023

TruSpine Technologies plc

("TruSpine" or the "Company")

Further re Bridge Loan Facility and Letter of Intent

TruSpine Technologies Plc, the medical device company focused on the spinal (vertebral) stabilisation market, provides an update in relation to the announcement made on 1 February 2023 concerning the Bridge Loan and LOI entered into with the Investment Group to provide the Company with staged equity funding.

The Company requested the drawdown from the £200,000 Bridge Loan facility that was notified on 3 January 2023, however, these funds have not yet been received, the Company expects receipt of these funds shortly.  

The subscription for Tranche 1 of the staged equity funding is expected to be subscribed for on or before 17 February 2023.

As previously notified, in the event that the Bridge Loan facility does not complete successfully and the equity drawdown funds are not received, the Company will need to raise further capital in the short term. The Company continues to carefully manage its working capital.

Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Company's announcement of 3 January 2023.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation, and the Directors of the Company are responsible for the release of this announcement.

Enquiries:

TruSpine Technologies Plc	Tel: +44 (0)20 3638 5025
Ian Roberts, CEO
Cairn Financial Advisers LLP (AQSE Corporate Adviser)	Tel: +44 (0)20 7213 0880
Liam Murray / Ludovico Lazzaretti
Oberon Capital (Joint Broker)	Tel: +44 (0)20 3179 5300
Mike Seabrook / Chris Crawford
Peterhouse Capital Limited (Joint Broker & Financial Adviser)	Tel: +44 (0)20 7469 0930
Lucy Williams / Duncan Vasey
Walbrook PR (Financial PR & IR)	Tel: +44 (0) 20 7933 7870 or +44 (0) 7876 741 001
Anna Dunphy	[email protected]

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

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