CU Medical Systems, Inc. announced that it expects to receive KRW 6 billion in funding
March 09, 2020
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CU Medical Systems, Inc. (KOSDAQ:A115480) announced a private placement of 9th series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 6,000,000,000 on March 10, 2020. The transaction will include participation from JC Asset Fund 1 for KRW 1,500,000,000, JC Asset Fund 7 for KRW 1,000,000,000, Honors Fund 1 for KRW 1,000,000,000, JC Asset Fund 2 for KRW 800,000,000, JC Asset Fund 6 for KRW 700,000,000, JC Asset Fund 3 for KRW 500,000,000 and JC Asset Fund 5 for KRW 500,000,000. The bonds will carry a coupon rate of 2%, yield to maturity of 5% and would mature on March 17, 2023. The bonds will be fully convertible into 2,824,858 shares of the company at a fixed conversion price of KRW 2,124 per share between the period of March 17, 2021 and February 17, 2023. The subscription and the payment date is March 12, 2020 and March 17, 2020 respectively. The transaction has been approved by the board of directors of the company.
CU MEDICAL SYSTEMS, INC. is a Korea-based company mainly engaged in the development, manufacture and marketing of medical equipment. The Company's product portfolio consists of medical equipment used for emergency care, utility health (U-Health) care and rehabitation care. Its emergency care equipment includes defibrillators, automated external defibrillator (AED) trainers, mannequins and data management software. Its U-Health care equipment includes telemetry systems, AED management systems and wearable electrocardiogram (ECG) sensors. Its rehabitation care equipment includes neuromuscular electrical stimulators. The Company distributes its products within domestic market and to overseas markets.
CU MEDICAL SYSTEMS, INC. 
