Funding Update
Trellus Health plc has secured a US$50,000 unsecured loan from CEO and Co-Founder Dr. Marla Dubinsky, bearing 5% annual interest and maturing in 12 months, which extends the company's cash runway into late April 2026. While a convertible facility remains available, its utilization is constrained by market conditions. The company's Independent Directors, in consultation with its Nominated Adviser, deem the terms of this related party transaction fair and reasonable for shareholders, as Trellus Health continues to explore further funding options to support its commercial strategy.
Select text to share a quote on X · sign in to keep highlights & notes in your TRLS notes
Trellus Health plc (AIM: TRLS), a healthcare company delivering Trellus Elevate®, a digital platform that integrates data analytics with personalised, scientifically proven resilience programmes and value-based solutions to manage complex chronic conditions, announces that it has entered into an unsecured loan agreement with the Dr. Marla Dubinsky, Chief Executive Officer and Co-Founder, with a principal amount of US$50,000 (the "Loan Note").
Loan Note Terms
The Loan Note will accrue interest at an annual rate of 5%, payable in cash at maturity of the loan. The loan term is 12 months.
Cash Runway
The proceeds from the Loan Note will extend the Company's cash runway into late April 2026. The Convertible Facility provided by Alumni Capital LLC remains in place, although utilisation continues to be currently constrained by market conditions.
As stated in the announcement of 27 March 2026, the Board remains supportive of the Company's commercial strategy and is engaged in ongoing discussions regarding a range of potential funding options to further extend the Company's cash runway.
Related Party Transaction
The Loan Note is deemed to be a related party transaction under AIM Rule 13 of the AIM Rules for Companies as Dr. Marla Dubinsky is a director of the Company. The Company's Independent Directors consider, having consulted with the Nominated Adviser, Singer Capital Markets, that the terms of the related party transaction are fair and reasonable insofar as the shareholders of the Company are concerned.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.