07 April 2021
TruSpine Technologies plc, (AQSE: TSP) the medical device company focused in the spinal (vertebral) stabilisation market notifies that further to the announcement of 1 April 2021, it has raised a further £35,000 through the subscription of 350,000 new ordinary shares ("Subscription Shares") at a price of £0.10 per share (the "Subscription Price") (the "Subscription") with a warrant for each Subscription Share subscribed for exercisable at £0.15 per share (the "Warrant") for a period of three years from the date of admission of the Subscription Shares to trading on AQSE.
The Subscription brings the proceeds to date from the capital raise, including the 1 April 2021 amount previously announced, to £620,500. The equity fundraise is still ongoing and the Company continues to be in receipt of indications for a further £130,000 subscription funds - a further announcement will be made in due course.
The Subscription was carried out on the same terms as the subscription notified on 1 April 2021.
Admission of Subscription Shares
The Subscription is conditional on admission of the Subscription Shares being admitted to trading on AQSE ("Admission"). Application will be made for the 350,000 Subscription Shares to be admitted to trading on AQSE.
It is expected that Admission will become effective and dealings in the Subscription Shares will commence on or around 12 April 2021.
Total Voting Rights
Following Admission, the Company's issued share capital will consist of 93,983,967 ordinary shares with voting rights. The new ordinary shares will rank pari passu with the existing ordinary shares. No ordinary shares are held in treasury at the date of this announcement and therefore following the Admission, the total number of Ordinary Shares in the Company with voting rights will be 93,983,967.
The above total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in the Company.
Special note concerning the Market Abuse Regulation:
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR"). Market soundings, as defined in MAR, were taken in respect of the Subscription, with the result that certain persons became aware of inside information, as permitted by MAR. That inside information is set out in this announcement. Therefore, those persons that received inside information in a market sounding are no longer in possession of inside information relating to the Company and its securities.
Truspine Technologies Plc
Tel: +44 (0)20 3638 5025
Ian Roberts, CEO
Cairn Financial Advisers LLP (AQSE Corporate Adviser)
Tel: +44 (0)20 7213 0880
Liam Murray / Ludovico Lazzaretti
WH Ireland (Broker)
Tel: +44 (0)20 7220 1666
Walbrook PR (Financial PR & IR)
Tel: +44 (0) 20 7933 7870 or +44 (0) 7876 741 001
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identiﬁed by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reﬂect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.