Yoo's Pharm Corporation announced that it expects to receive KRW 5 billion in funding from Amicogen, Inc.
January 14, 2020
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Yoo's Pharm Corporation announced a private placement of 2,500,000 common shares at an issue price of KRW 2,000 per share for gross proceeds of KRW 5,000,000,000 on January 14, 2020. The transaction will involve participation from new investor Amicogen, Inc. (KOSDAQ:A092040) and will acquire majority stake of 54.76% stake in the company. The shares will be issued through third party allotment. Post the closing of the transaction, the shares of the company will increase from 2,065,161 to 4,565,161 shares. The transaction is expected to close on January 15, 2020. The transaction was approved by the board of directors of the investor.
Amicogen, Inc. is a Korea-based company engaged in the development, production and distribution of enzymes, bio new materials and healthcare food. The Companyâs products consist of special enzymes, N-acetylglucosamine (NAG), pinitol, D-Chiro-inositol (DCI), collagen peptides (CP) and protein A chromatography resins. The Company distributes its products within domestic market and to overseas markets, including China, Japan, the United Sates, Germany and Thailand.
AMICOGEN, INC. 
