AURORA SPINE CORPORATION ANNOUNCES AMENDMENT TO LOAN FROM INSIDER
Globenewswire·2026-03-04 22:01

Core Viewpoint - Aurora Spine Corporation has amended an existing loan agreement, reducing the interest rate and extending the maturity date, which reflects the company's ongoing financial management strategy [1][2]. Loan Details - The principal amount of the loan is US$1,600,000, with accrued and unpaid interest totaling US$1,249,500 [1]. - The interest rate has been reduced from 9% to 4.5% per annum effective January 1, 2026 [2]. - The maturity date has been extended from June 29, 2027, to July 11, 2029 [2]. - In the event of a default, the interest rate will increase to 12% per annum [2]. Related Party Transaction - The loan is classified as a "related party transaction" under Multilateral Instrument 61-101, but is exempt from formal valuation and minority approval requirements [3]. - The company was unable to file a material change report more than twenty-one days prior to the loan completion [3]. Company Overview - Aurora Spine Corporation is based in Carlsbad, California, and specializes in designing and manufacturing minimally invasive spinal implants and interventional pain management technologies [5]. - The company's mission is to enhance spinal surgery outcomes through integrated and cost-effective solutions [5].

AURORA SPINE CORPORATION ANNOUNCES AMENDMENT TO LOAN FROM INSIDER - Reportify