Business
Company Update
Company Update.
About this update from Tsp Advanced Technologies Plc
[{"type":"text","content":"\n\n \n27 November 2023\n \nTruSpine Technologies plc\n(\"TruSpine\" or the \"Company\")\n \nCompany Update\n \n \nTruSpine Technologies plc (AQSE: TSP) the medical device company focused on the spinal (vertebral) stabilisation market, provides an update on its business and working capital position.\n \nFDA Update\n \nFurther to the announcement on 30 October 2023, the Company continues to be in communication with the U.S. Food and Drug Administration (\"FDA\") on its 510(k) application for Cervi-LOK as the FDA continue to carry out the substantive review. The Company will update the market on further developments in due course.\n \nWorking Capital Position\n \nAs previously notified, the Company's working capital position remains weak given the lack of revenue generating operations, however the Company is prudently managing its limited working capital position. The Company is reviewing equity and debt financing options available to it and the Directors fully expect a successful resolution in securing adequate funding to meet the Company's working capital requirements in the near-term.\n \nAGM Update\n \nFurther to the announcement on 31 May 2023, the Company intends to reconvene the 2022 Annual General Meeting as soon as practicable.\n \nProposed Director Appointments Update\n \nFurther to the announcement on 18 September 2023, the Company maintains its intention to appoint Victoria Sena and Samuel Ogunsalu, subject to standard regulatory due diligence and securing adequate funding to meet the Company's working capital requirements in the near-term.\n \nUS Seller Update\n \nFurther to the announcement of 28 April 2022, the Company continues to be in discussions to agree a new redistribution contract with Spartan Medical, Incorporated which the Company expects to sign in due course.\nThis 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.\nEnquiries:\n\n\n\n\nTruSpine Technologies Plc\n\n\nTel: +44 (0)20 7118 0852\n\n\n\n\nLaurence Strauss, Chief Executive Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCairn Financial Advisers LLP (AQSE Corporate Adviser)\n\n\nTel: +44 (0)20 7213 0880\n\n\n\n\nLiam Murray / Ludovico Lazzaretti\n\n\...