Business
Proposed issue of Secured Convertible Loan Notes
Trellus Health plc announced a proposed issue of up to £5 million in Secured Convertible Loan Notes to an institutional investor to extend its cash runway, subject to shareholder approval. The facility, available in multiple tranches over 12 months, includes conversion at a discount to market price and associated warrants. The net proceeds from the first two tranches, totaling £737,500, are expected to sustain the company until late Q1 2026, with further tranches dependent on conditions being met. The company's adjusted EBITDA loss for the six months to June 2025 was £2.6 million, with administrative costs at £3.3 million, and cash resources of £1.6 million at June 30, 2025. The proposed fundraise is crucial for the company's going concern status, with failure to secure funding potentially leading to administration. Disclaimer*
About this update from Trellus Health Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO PURCHASE AND/OR SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN TRELLUS HEALTH PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF TRELLUS HEALTH PLC OR ANY OTHER ENTITY.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION RELATING TO TRELLUS HEALTH PLC AND ITS SECURITIES FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS IT FORMS PART OF THE DOMESTIC LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"EUWA\") AND AS MODIFIED BY OR UNDER THE EUWA OR OTHER DOMESTIC LAW, INCLUDING BUT NOT LIMITED TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (\"UK MAR\"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED WITHIN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF INSIDE INFORMATION (AS DEFINED UNDER UK MAR), AS PERMITTED BY UK MAR. THIS INSIDE INFORMATION IS SET OUT IN THIS ANNOUNCEMENT. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THOSE PERSONS THAT RECEIVED INSIDE INFORMATION IN A MARKET SOUNDING ARE NO LONGER IN POSSESSION OF SUCH INSIDE INFORMATION RELATING TO TRELLUS HEALTH PLC AND ITS SECURITIES, WHICH IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \nTrellus Health plc\n(\"Trellus Health\" or the \"Company\") \n \nProposed issue of Secured Convertible Loan Notes to raise up to £5 million\nand grant of Warrants\n \nDefinitions contained within Appendix I to this Announcement apply, unless the context requires otherwise\n \nTrellus Health plc (AIM: TRLS), a healthcare company delivering Trellus Elevate®, a digital platform that integrates data analytics with personalised, scientifically proven resilience programs and value-based solutions to manage complex chronic conditions, announces that it proposes to issue £5 million Secured Convertible Loan Notes (the Facility) to an institutional investor to extend the Company's cash runway, subject to Shareholder approval. The ...