UltraGreen.ai Limited announced on May, 18 2026 that it has applied part of its initial public offering proceeds to two convertible-loan investments and additional working-capital needs.

The company has extended a convertible loan of about 6.1 million Singapore dollars to LifeSignals Group Inc. to accelerate biosensor manufacturing, software upgrades and other operating requirements. LifeSignals, an associate of the company’s controlling shareholder, will market its cardiac-monitoring devices under the new brand “UltraGreen Cardiac Technologies.” The Audit Committee has approved the transaction, which falls below the 3% net tangible asset threshold that would otherwise trigger shareholder approval under Singapore Exchange rules.

A second convertible loan of roughly 4.1 million Singapore dollars has been provided to IHLD Med Tech Private Limited to expand UltraGreen’s fluorescence-guided platform into India’s wound-care market. Subject to milestone achievements, the investment can rise to as much as 16.2 million Singapore dollars. Commercial rollout in India is targeted within the next two to three months, focusing on procedure-based models that combine consumables with imaging and software offerings.

Following these deployments, the company has used about 10.1 million Singapore dollars of the 29.8 million Singapore dollars originally earmarked for strategic investments and working capital, leaving approximately 19.7 million Singapore dollars available.

UltraGreen.ai said the two investments are not expected to have a material impact on its earnings per share for the year ending Dec, 31 2026.