Source - Alliance News
Renalytix PLC - London-based diagnostics company - Reports Heights Capital Ireland LLC-advised fund notifies company that approximately $4 million of non-amortising senior convertible bonds will be capitalised. Says 31.7 million ordinary shares will be issued at 9.5 pence each, the same price as Renalytix’s recent fundraise, which raised just over £1.0 million. Renalytix says the bond conversion will improve its debt-to-equity ratio and significantly improve its balance sheet, improving its net asset position by around $4 million and saving up to $1.4 million in accrued interest over the remaining life of the loan.
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12-month change: up 22%
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