On July 2, 2024, Belluscura plc closed the transaction. The company has issued 7% Convertible Unsecured Loan Notes due 2029 for the gross proceeds of £1,710,000. All outstanding Placing Loan Notes shall be automatically converted into ordinary shares of the Company on July 9, 2029.

The notes will mature on July 9, 2029. The notes are convertible into ordinary shares of the company at a conversion price of19pence per share, save that any conversion within the first 28 days following the issue date of the Placing Loan Notes will be at a conversion price of £0.16 per share.