Osteopore (ASX:OSX), an Australian-Singaporean regenerative medicine company, has entered into a term sheet with Advance Opportunities Fund and Advance Opportunities Fund I for the issuance of redeemable convertible notes worth up to $20 million.
The notes, which carry a 4% interest rate per annum, are subject to formal documentation and regulatory and shareholder approvals.
Osteopore plans to seek shareholder consent at an upcoming extraordinary general meeting.
Osteopore Executive Chairman Mark Leong stated, "In the past 18 months, our commercialisation efforts have delivered six consecutive quarters of revenue growth, with our bioresorbable implants now used in more than 120,000 surgeries."
Leong further added, "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."
The funds raised will be used for business operations, future developments, projects, and investments.
Osteopore is a medical technology company engaged in commercialising a range of bespoke products specifically engineered to facilitate bone healing across multiple therapeutic areas.
The company's patented technology fabricates specific micro-structured scaffolds for bone regeneration through three-dimensional printing and bioresorbable material.