Jeonjinbio Co., Ltd. announced that it expects to receive KRW 2.2 billion in funding
June 27, 2019
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Jeonjinbio Co., Ltd. (KOSDAQ:A110020) announced a private placement of series 5 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 2,200,000,000 on June 28, 2019. The transaction will include participation from new investor, Findvalue Mezzanine Plus Hedge Fund (Bond Mixed) and existing investor, Aejoo Lee for KRW 2,000,000,000 and KRW 200,000,000 respectively. The bonds will be issued at its par value. The bonds do not carry any interest coupon and carry a yield to maturity of 2.5%. The bonds will mature on July 2, 2022. The bonds are fully convertible into registered common stock of the company at a conversion price of KRW 13,484 per share. The conversion period of the bonds will be from July 2, 2020 to June 2, 2022. The subscription date and the payment date for the bonds are expected on July 2, 2019. The transaction was approved by the board of directors of the company.
JEONJIN BIO CO.,LTD is a company mainly engaged in the production and sale of harmful animal damage reduction products. The harmful animal damage reduction products include bird, mammal, reptile, pest and parasitic damage reduction agents. In addition, the Company manufactures and sells insecticide fragrance. The Company distributes its products within the domestic market and to overseas markets.