REG - Belluscura PLC - Update re Proposed Fundraise

BelluscuraAnnouncement

28/10/2025 17:45

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RNS Number : 1868F  Belluscura PLC  28 October 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

28 October 2025

 

Belluscura plc

("Belluscura" or the "Company")

 

Belluscura LLC Update

 

Belluscura plc (AIM: BELL), a UK medical device company focused on developing
oxygen enrichment technology spanning broad industries and therapies,
announced on 12 September 2025 that having previously terminated discussions
with Omaha Value, Inc. and AI Ventures, Inc (together the "Omaha Investor
Group") regarding a proposal to refinance the Company, those discussions had
been revived in order to consider a revised  and detailed proposition from
the Omaha Investor Group.  The Company remains in protracted discussions with
the Omaha Investor Group but funding has not yet been confirmed and there can
be no certainty that the funding will be secured.

 

In the meantime, given the rate of progress on the proposed refinancing,
Sallyport Commercial Finance ("Sallyport"), the secured funder of the
Company's wholly-owned US trading subsidiary Belluscura LLC, has foreclosed on
the facility and the Company's directors have been  notified of the disposal
of the collateralised assets of Belluscura LLC to a third party, which is
unconnected to the Company or the directors.  Those assets comprised
principally various items of physical stock, intellectual property and various
customer and distributor details and databases. The sale did not include the
intellectual property licensed from Separation Design Group, LLC, which
comprises the principal IP behind the Company's portable oxygen concentrators.
Sallyport has now been repaid in full and further accounts receivable will now
flow into Belluscura LLC.

 

Given the scale of Belluscura LLC's remaining liabilities the Board
anticipates that without the proposed refinancing from the Omaha Investor
Group, Belluscura LLC will be required to file for Chapter 7 under the U.S.
Bankruptcy Code. The bankruptcy of Belluscura LLC would constitute an event of
default under certain of the Company's and Belluscura LLC's existing
contractual arrangements including, without limitation, the existing
convertible loan notes issued by the Company.

 

A further announcement will be made in due course.

 

 

 

For further information please contact:

 

 Belluscura plc                                              Tel: +44 (0)20 3128 8100
 Paul Tuson, Chairman

 SPARK Advisory Partners Limited                             Tel: +44 (0)20 3368 3550

 Nominated Adviser

 Neil Baldwin

 Dowgate Capital Limited                                     Tel: +44 (0)20 3903 7715

 Joint Broker

 Russell Cook / Daniel Ingram

 Allenby Capital Limited                                     Tel: +44 (0)20 3328 5656

 Joint Broker

 Guy McDougall / Amrit Nahal (Sales and Corporate Broking)

 Jeremy Porter / Lauren Wright (Corporate Finance)

 

 

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