Jeonjinbio Co., Ltd. announced that it expects to receive KRW 500 million in funding from Findvalue Asset Management Co., Ltd.
September 10, 2017
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Jeonjinbio Co., Ltd. announced a private placement of 4th unregistered unguaranteed private convertible bonds for gross proceeds of KRW 500,000,000 on September 11, 2017. The transaction will involve participation from new investor Findvalue Asset Management Co., Ltd. The bonds will not carry any coupon and have a yield to maturity of 5%. The bonds will be fully convertible into 62,500 shares at a fixed conversion price of KRW 8,000 per share between September 12, 2018 and September 11, 2022. The bonds will mature on September 12, 2022. The subscription and payment date for the bonds is September 12, 2017. The bonds carries a put option under which holder may request the company to repay all or part of its debts from September 19, 2019.
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.