Pharma & Tech Co., Ltd. announced that it has received KRW 2.5 billion in funding from Cenit Co., Ltd
August 27, 2018
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Pharma & Tech Co., Ltd. announced a private placement of one first unregistered coupon unguaranteed private convertible bond with Cenit Co., Ltd (KOSDAQ:A037760) at KRW 2,500,000,000 per bond for gross proceeds of KRW 2,500,000,000 on August 27, 2018. The bond carries put able feature, yield to maturity of 4% per annum with zero coupon rate, and will mature on August 27, 2023. The bond will be 100% convertible into common shares of the company at a fixed conversion price of KRW 621 per share from September 27, 2018 to July 27, 2023. The company reported total assets of KRW 1,481,000,000, total liabilities of KRW 1,060,000,000, total capital of KRW 421,000,000, capital of KRW 810,000,000, sales of KRW 350,000,000, and net loss of KRW 327,000,000 for the year ended December 31, 2017. The board of directors of the company approved the transaction.
Cenit Co., Ltd., together with its subsidiary, is a Korea-based company engaged in the manufacture of ready-mixed concretes (Remincons) and stainless steel plates. The Company mainly provides stainless steel plates, which are used in machine equipment, power generation equipment, industrial equipment, automobiles, electronics and others. It also engages in the operation of movie theaters. Through its subsidiaries, the Company is engaged in the manufacture and sales of Remincons, and canned kimchi, a kind of Korea pickles. On September 1, 2013, it merged with DaejeonGaoCinema Co.,Ltd., a Korea-based company mainly engaged in the real estate rental and supply business. After that, DaejeonGaoCinema Co.,Ltd. was dissolved.
CENIT CO., LTD 
