Adherium secures US$1.65m shareholder loan

• Adherium (ASX:ADR) has entered a short‑term unsecured loan facility with major shareholder Trudell Medical for US$1.65 million
• The loan carries 12% annual interest, capitalised monthly, and is due on 30 September 2026, with options for month‑to‑month extension
• Adherium (ASX:ADR) says the funds will cover immediate working capital needs while it pursues a share consolidation and R&D‑linked financing

Adherium (ASX:ADR), a digital respiratory management company and developer of the US FDA‑cleared Hailie Smartinhaler, has secured US$1.65 million in short‑term funding via an unsecured loan facility from its major shareholder Trudell Medical to support working capital requirements.

The loan follows a period in which Adherium flagged the need to reshape its capital structure and reflects limited or less favourable options from third‑party financiers compared with funding from an existing strategic shareholder.

“We chose to obtain the Loan Facility from Trudell because alternative funding options are limited, uncertain or available only on materially less favourable terms,” said Adherium’s board.

Under the facility, interest is charged at 12% per annum on the principal, capitalised monthly until repayment, with the loan due on 30 September 2026 unless Adherium and Trudell agree to extend the date month by month, and the company may repay early without penalty, subject to immediate repayment on any event of default.

The board, with Trudell‑associated director George Baran abstaining, considers the terms to be comparable to similar short‑term loans from unrelated parties and says the facility has been negotiated on arm’s length terms, meaning shareholder approval is not required under the related‑party provisions of the Corporations Act.

Adherium says the funding will bridge immediate needs while it seeks approval for a proposed share consolidation announced in May 2026 and explores R&D lending opportunities, as it continues to develop and commercialise its Hailie platform for connected respiratory monitoring across mobile, desktop and integrated health data tools.

At the time of reporting, the Adherium (ASX:ADR) share price was $0.0020.