GCIBelluscura Raises £1.92m in funding to boost Portable Oxygen Concentrator commercialisation
Great news. Subject to shareholder approval on 8th July, has just raised a further £1.92m to help fully commercialise its next generation portable oxygen concentrators (POCs).
The financing is split £1.71m of 7% 2029 unsecured convertible loan notes, and £0.21m of new shares at 15p each. Which alongside the £0.3m of fresh equity that raised from a High Net Worth individual last week, means the total placing came to £2.2m, or $2.8m.
Chairman Adam Reynolds commenting: "The Group has made good progress in recent months, gaining further traction in North American and delivering record sales for X-PLOR in June 2024. The proposed fundraise will provide Belluscura with the funding to capitalise on the strong anticipated demand for X-PLOR and the considerable interest in DISCOV-R."
Another encouraging step in the right direction.
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