On October 3, 2022, Rockley Photonics Holdings Limited closed the transaction. The company received $10,000,000 from existing lenders. The transaction included participation from Andrew Rickman, chairman and chief executive officer of the company for gross proceeds of $500,000.

The agreement also creates a structure for the company to raise an additional $15,000,000 in the form of notes which would be convertible into the company's ordinary shares.