other material
confidence high
sentiment neutral
materiality 0.75
Renalytix raises £11.6M in private placement and restructures $11.7M convertible bonds
Renalytix plc
- Gross proceeds of £2.16M from first tranche (24M shares) and £9.43M from second tranche (104.7M shares) at £0.09 per share.
- Insiders acquired 14.86M shares; all insider shares subject to six-month lock-in.
- £2.97M of bonds converted to 33M shares; remaining balance restructured as 5.5%/7.5% convertible loan note due July 2029, conversion at 250% of Issue Price.
- $850k advisor accounts payable restructured: $425k converted to shares at Issue Price; $325k to unsecured note at 5% due in 5 years or change of control.
- Net proceeds used for sales/marketing, general corporate expenses, and ~10% for EHR integrations.