Bioneer Corporation announced that it has received KRW 5 billion in funding from LB Investment Inc., KDB Capital Corporation, Investment Arm, IBK Capital Corporation, Anda Investment Partners, and another investor.
April 03, 2014 at 09:30 am IST
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Bioneer Corporation (KOSDAQ:A064550) announced that it will receive KRW 5,000,000,000 in funding on April 1, 2014. The company will issue its sixth domestic unregistered unsecured private convertible bonds in the transaction. The bonds will be subscribed by Future Creation LB Leading Company Investment Fund No. 20, a fund managed by LB Investment Inc., KDBC Biomedical New Growth Investment Fund, a fund managed by KDB Capital Corp., IBK Financial Group Shared Growth PEF, a fund managed by IBK Capital Corporation, Anda Investment Partners, and an existing shareholder of the company, Sung-Jin Hwang. The bonds will mature on April 3, 2017 and will not carry any coupon rate. The yield to maturity will be 7%. The bonds are 100% convertible into common shares of the company at a conversion price of KRW 16,000 per share during the conversion period from April 3, 2015 to March 3, 2017. Future Creation LB Leading Company Investment Fund No. 20, KDBC Biomedical New Growth Investment Fund, IBK Financial Group Shared Growth PEF, Anda Investment Partners, and Sung-Jin Hwang will subscribe to the bonds for proceeds of KRW 1,500,000,000, KRW 1,000,000,000, KRW 1,000,000,000, KRW 1,000,000,000, and KRW 500,000,000 respectively. Payment date for the transaction is April 3, 2014. The transaction was approved by the board of directors of the company.
On April 3, 2014, Bioneer Corporation closed the transaction.
Bioneer Corp is a Korea-based company engaged in the biotechnology business. The Company mainly operates genetic research, molecular diagnostics, probiotics, and ribonucleic acid interference (RNAi) new drug development businesses. The Company mainly provides services such as gene analysis and synthesis, gene expression, and protein expression and purification. The Companyâs products include body fat-reducing lactic acid bacteria in probiotics field, and basic materials, reagents, kits, gene extraction, amplification, quantitative analysis equipment, molecular diagnosis equipment for genetic research and molecular diagnosis used in molecular diagnosis field. The company also provides laboratory equipment, single products, and laboratory consumables used in biotech research.
Bioneer Corporation announced that it has received KRW 5 billion in funding from LB Investment Inc., KDB Capital Corporation, Investment Arm, IBK Capital Corporation, Anda Investment Partners, and another investor.