Belluscura focuses on novel oxygen-based treatment platforms that can be adapted and applied in a wide range of markets beyond those traditionally applicable to a single product or product line. Its range of portable products will be lighter, more adaptable and have higher O₂ capacity than existing oxygen enrichment products. Whilst potentially useful for recovering COVID patients, it has a wide range of use for sufferers of pneumonia, COPD (i.e. asthma, emphysema and chronic bronchitis) and other respiratory illnesses.
It received 510(k) clearance from the US Food & Drug Administration (FDA) in March 2021 for its X-PLO₂R range of oxygen concentrators, which will be launched in 2021.
The Company has a registered office in the UK. Its subsidiary, Belluscura LLC, is based in Plano, Texas, USA. The USA is the Company’s main country of operation.
Admission to Trading on AIM
On 28th May 2021, admission and dealings commenced by way of a Placing of, and Subscription for, 38,888,888 new ordinary shares at 45 pence each per share.
Reasons for Admission
The Directors believe that Admission and the funds to be raised pursuant to the Placing and Subscription which were £16.1 million, are an important step in the Group’s development and expansion. The Company is seeking Admission in order to:
- Increase the profile of the Group in the UK and internationally;
- Provide future access to capital;
- Provide the Group with the ability to incentivise its employees;
- Provide the ability to issue Ordinary Shares as consideration for acquisitions; and
- Provide liquidity in the Ordinary Shares
The Perivan shareholder communications team were delighted to work with Spark Advisory Partners who were appointed Nominated Adviser to Belluscura on the successful publication of the 115-page admission document.
Perivan specialise in the production and publication of financial documents relating to shareholder and investor communications for quoted companies, private companies and open and closed-ended funds.