IN BRIEF: Vela Technologies takes 5% stake in TruSpine Technologies

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Vela Technologies PLC - Bradford, England-based investment company focused on early-stage technology companies - Invests £300,000 in TruSpine Technologies PLC. Vela subscribes for 6.0 million TruSpine shares, giving Vela a 5.1% stake. Vela doesn't provide the price per share that it paid, but the amount paid would equate to a price of 5 pence per TruSpine share. The stock was quoted on Aquis Stock Exchange in London on Thursday afternoon at 4.8p.

TruSpine is a Gatwick, England-based medical device company focused on developing spinal stabilisation systems. In the half-year that ended September 30, TruSpine recorded a £482,605 loss. It had no revenue.

Executive Director James Normand says: ‘We consider TruSpine and its products to be a perfect example, both of the type of business and of the disruptive potential of its products, of the type of investment in which Vela was established to invest.’

Current Vela stock price: 0.028p, down down 3.7% on Thursday

12-month change: down 99%

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