ReNerve Ltd (ASX:RNV, OTC:RNVEF) has secured a convertible note funding facility of up to A$5 million with RiverFort Global Opportunities PCC Ltd, strengthening its balance sheet as it advances the commercial rollout of its nerve repair technology platform.
The facility gives ReNerve access to staged funding over a three-year availability period, with an initial drawdown of about A$1.6 million in gross proceeds to support near-term commercial and operational requirements.
The staged structure will allow it to access capital over time as required, aligned with commercial progress, while supporting working capital, general corporate purposes and broader market development.
The funding is expected to support continued commercialisation initiatives, including expansion of the company’s product portfolio, US sales and distribution activities, and broader market development programs.
ReNerve CEO Dr Julian Chick said the facility provided important financial flexibility as the company continued to advance its commercial and strategic objectives.
“The staged structure allows us to access capital as required, while supporting the company’s ongoing commercialisation activities and managing dilution and cash flow.
“ReNerve has made strong progress in building its product portfolio, distribution infrastructure and market presence. This facility provides additional funding capacity as we continue to drive sales growth, support new product launches and pursue regulatory and commercial opportunities across key international markets.”
Facility terms
The initial drawdown has a face value of A$1.6 million and will provide about A$1.361 million in net cash proceeds after the initial issue discount, drawdown fee and legal costs.
Convertible securities issued under the first drawdown will be limited by a maximum dilution of 16,054,394 shares, with options to be issued following approval at the company’s next general meeting.
Each drawdown will have an 18-month maturity date, with repayments to occur through monthly cash instalments starting six months after the relevant drawdown date. Outstanding balances can also be converted at a fixed placing price equal to a 30% premium to the five-day VWAP share price on the date of each drawdown.
Nerve repair technology platform
ReNerve is a medical device company focused on peripheral nerve repair, with products designed to improve outcomes for patients with peripheral nerve injuries. Its flagship FDA-cleared NervAlign® Nerve Cuff is already being used in the United States.
The company is also advancing a broader suite of nerve repair and surgical products, including the on-market NervAlign® Nerve Cuff, Empliq™ Deep Dermal tissue product and Empliq™ Amniotic tissue product ranges, as well as several NervAlign® products in development.
About ReNerve
ReNerve is developing medical devices for peripheral nerve surgery and related surgical repair markets. The company said it achieved 53% revenue growth in FY25 to $271,000 in sales, with year-to-date FY2026 sales showing further increases across its portfolio.