ADBiotech Co., Ltd. announced that it expects to receive KRW 4.5 billion in funding
April 22, 2021
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ADBiotech Co., Ltd. (XKON:A179530) announced a private placement to issue series 5 registered non-guaranteed private convertible bonds for KRW 4,500,000,000 on April 22, 2021. The transaction will include participation from A-Stone Project 1 Fund for 2,500,000,000, Magna VITA Fund for KRW 700,000,000, Focus HERO KOSDAQ Venture Hedge Fund 1 for KRW 400,000,000, and other investors. The bonds carry no coupon and yield, and will mature on May 3, 2024. The bonds are 100% convertible into 170,240 common shares of the company representing 6.64% stake at the conversion price of KRW 26,433 per share. The conversion period will start from May 3, 2022 and May 2, 2024. The transaction is expected to close on May 3, 2021. The transaction has been approved by the board of directors of the company.
ADBiotech Co Ltd is a Korea-based company mainly engaged in the manufacture and sale of veterinary drugs. The Company operates its business through two segments. Veterinary Medicine segment is engaged in the manufacture and sale of antibiotics, anticoccidial agents, antimicrobial agents, nervous system agents, synthetic antibacterial agents and others. The Supplementary Feed segment is engaged in the manufacture and sale of functional supplementary feeds and other products.
ADBIOTECH CO., LTD. 
