Renalytix plc
("Renalytix" or the "Company")
$4m balance sheet improvement with bond conversion
LONDON and NEW YORK, 10 October 2025 - Renalytix plc (LSE: RENX) (OTCQB: RNLXY), a precision medicine diagnostics company, with kidneyintelX.dkd, the only FDA-approved and Medicare reimbursed prognostic test to support early-stage risk assessment in chronic kidney disease, has been notified by a fund advised by Heights Capital Ireland LLC ("Convertible Bond Investor") that approximately $4m of non-amortizing senior convertible bonds ("Convertible Bonds") will be capitalised via the issue to the Convertible Bond Investor of 31,650,034 ordinary shares, at the recent fundraise issue price of 9.5 pence per share ("Conversions Shares").
The conversion of the Convertible Bonds will provide a significant improvement to Renalytix's balance sheet, improving the Company's net asset position by approximately $4m and saving up to $1.4m in accrued interest over the remaining life of the loan. The conversion will also improve the Company's debt to equity ratio.
Application will be made to the London Stock Exchange for admission of the Conversion Shares to trading on AIM ("Admission"). It is expected that Admission of the Conversion Shares will take place at 8.00 a.m. on 15 October 2025 and that dealings in the Conversion Shares on AIM will commence at the same time.
Total Voting Rights
Following Admission , the Company's total issued share capital will be 437,018,680 Ordinary Shares o f £0.0025 each in the capital of the Company ("Ordinary Shares"). Each Ordinary Share carries the right to one vote at a general meeting of the Company. The Company does not hold any Ordinary Shares in treasury.
The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
For further information, please contact:
| Renalytix plc |
||
| James McCullough, CEO |
Via Walbrook PR |
|
| |
|
|
| SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker) |
Tel: +44 (0)20 3470 0470 |
|
| Jeff Keating / David Hignell (Corporate Finance) Vadim Alexandre (Corporate Broking) |
|
|
| |
|
|
| Oberon Capital (Joint Broker) |
Tel: +44 (0)20 3179 5300 |
|
| Mike Seabrook / Nick Lovering |
|
|
| |
|
|
| Walbrook PR Limited |
Tel: 020 7933 8780 or [email protected] |
|
| Paul McManus / Alice Woodings |
Mob: 07980 541 893 / 07407 804 654 |
|
About Renalytix (www.renalytix.com)
Renalytix (LSE: RENX) (OTCQB: RNLXY) is an artificial intelligence-enabled in vitro diagnostics company, focused on optimizing clinical management of kidney disease to drive improved patient outcomes. Renalytix has received FDA approval and Medicare reimbursement for kidneyintelX.dkd which is now offered commercially in the United States.
Unrecognized and uncontrolled kidney disease remains one of the largest barriers to controlling cost and suffering in the United States and the United Kingdom's medical system, affecting over 14 million and 8 million people, respectively. After five years of development and clinical validation, kidneyintelX.dkd is the only FDA-approved and Medicare reimbursed prognostic tool capable of understanding a patient's risk with kidney disease early where treatment has maximal effect. kidneyintelX.dkd is now being deployed across large physician group practices and health systems in select regions of the United States.
The over 15,000 patients that have been tested by kidneyintelX.dkd have produced a substantial body of real-world performance data. In patient populations where kidneyintelX.dkd has been deployed, a demonstrated and significant increase in diagnosis, prognosis, and treatment rates have been recorded. kidneyintelX.dkd now has full reimbursement established by Medicare, the largest insurance payer in the United States, at $950 per reportable result. kidneyintelX.dkd is also recommended for use in the international chronic kidney disease clinical guidelines (KDIGO).
KidneyIntelX is based on technology developed by Mount Sinai faculty and licensed to Renalytix AI, Inc. Mount Sinai faculty members are co-founders and equity owners in the Company. In addition, the Icahn School of Medicine at Mount Sinai has equity ownership in Renalytix. For information about the kidneyintelX,dkd test, visit kidneyintelx.com .
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.