Leader in 3D-printed biomimetic and bioresorbable implants and regenerative medicine, Osteopore Limited (ASX: OSX), has entered into a term sheet with Advance Opportunities Fund and Advance Opportunities Fund I (AOF I) to issue 4% in redeemable convertible notes (RCNs) – with an aggregate nominal value of up to $20 million.
AOF I – a Cayman Islands-based open-ended fund – was incorporated in 2016 as an exempt company with limited liability. AOF 1 is structured as a regulated mutual fund for the purposes of the mutual funds law of the Cayman Islands and registered with the Cayman Islands Monetary Authority.
As AOF 1 is a collective investment scheme which offers its participating shares to accredited investors in Singapore, AOF 1 is registered as a restricted foreign scheme with the Monetary Authority of Singapore (MAS).
As a restricted foreign scheme registered with MAS, the laws of Singapore requires the investment funds of AOF 1 to be fully managed by a fund manager licensed and regulated by the MAS. ZICO Asset Management Pte. Ltd. (ZICOAM) has been appointed by AOF 1 to serve as the discretionary investment manager of all its investments. ZICOAM has been granted a capital markets services licence to conduct fund management activities regulated under the Securities and Futures Act 2001 of Singapore by MAS. On 28 December 2023, Osteopore notified the market that AOF I provided a bridging loan to the company. The Notes issue is subject to shareholder approval being sought at an extraordinary general meeting (EGM) of the Company, which is expected to be scheduled in due course.
“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,” Osteopore Executive Chairman, Mark Leong, said.
“Our exclusive distribution agreement with Zimmer Biomet not only validates our regenerative technology but also strengthens our market position.
“Osteopore has demonstrated and remains committed to expanding our business, securing further regulatory approvals, and advancing our regenerative capabilities, paving the way for sustained growth. 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.”