Cellumed Co., Ltd. announced that it expects to receive KRW 15 billion in funding from High Value Life Science No. 1 Investment Association, BNS Investment Ltd
May 14, 2021
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Cellumed Co., Ltd. (KOSDAQ:A049180) announced that it will issue series 24 and series 25 bearer interest non-guaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 and KRW 5,000,000,000 respectively for gross proceeds of KRW 15,000,000,000 on May 14, 2021. The transaction will include participation from new investors High Value Life Science No. 1 Investment Association and BNS Investment Ltd. The bonds will bear 2% coupon rate and yield to maturity of 5% per annum. The bonds will mature on May 28, 2024. The series 24 bonds will be fully convertible into 1,438,489 common shares representing 3.63% stake in the company at a fixed conversion price of KRW 6,950 per share from May 28, 2022 to April 28, 2024 and series 25 bonds will be fully convertible into 719,424 shares representing 1.82% stake in the company at a conversion price of KRW 6,950 per share from May 28, 2022 to April 28, 2024. The transaction has been approved by the board of director of the company. The subscription date is May 14, 2021 and payment date is May 28, 2021. The bonds are subject to hold period of one year.
CELLUMED CO., LTD., formerly Korea Bone Bank CO., LTD, is a Korea-based company engaged in the manufacture and sale of medical equipment and biosimilars. The Companyâs products consist of allografts for tissue repair; bone sponges, bone powders and demineralized bone matrixes (DBMs) for bone regeneration; biosimilars, such as bone morphogenetic protein 2 (BMP2) reagents and others, as well as medical devices, such as spinal fixation systems, joint replacements and navigation systems. The Company sells its products within domestic market and to overseas markets.
Cellumed Co., Ltd. announced that it expects to receive KRW 15 billion in funding from High Value Life Science No. 1 Investment Association, BNS Investment Ltd
CELLUMED CO.,LTD. 
