Corentec Co., Ltd. announced that it has received KRW 6 billion in funding from InterVest Co., Ltd.
December 15, 2014 at 09:30 am IST
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Corentec Co., Ltd. (KOSDAQ:A104540) announced a private placement of the zero coupon sixth registered/unsecured private convertible bonds for gross proceeds of KRW 6 billion on December 11, 2014. The bonds will have yield to maturity of 3.5% per annum and will mature on December 15, 2019. Bonds are redeemable in lump sum on its maturity and can be converted into shares of the company at KRW 18,810 per share from December 15, 2015 to December 14, 2019. The transaction will include participation from new investor InterVest Co., Ltd. which will invest KRW 3 billion through its fund InterVest Global Pharmaceutical Fund and KRW 3 billion through its fund Hansing High Tech Investment Fund III.
On December 15, 2014, Corentec Co., Ltd. closed the transaction.
Corentec Co., Ltd. is a Korea-based company engaged in the development, manufacture and sale of orthopedic implants. The Companyâs products consist of hip products, including primary systems, hemi-arthroplasty systems and revision systems, such as cementless femoral stems, cemented femoral stems, cups for acetabular systems, bearing systems and others; knee products, including primary knee system fixed type, primary knee system mobile type, revision knee systems and augments systems, and spine products, including pedicle screws and peek cages. The Company mainly provides its hip products under the brand name of BENCOX, knee products under the brand name of LOSPA and spine products under the brand name of LOSPA IS. The Company distributes its products within domestic market and to overseas markets.
CORENTEC CO., LTD. 
