CTCBIO Inc. announced that it expects to receive KRW 20 billion in funding from Korea Investment Partners Co. Ltd. and other investors
August 22, 2017
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CTCBIO Inc. (KOSDAQ:A060590) announced a private placement of 1st unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 20,000,000,000 on August 22, 2017. The transaction will involve participation from new investors Korea Investment Global Pharmaceutical Industry Promotion PEF, a fund managed by Korea Investment Partners Co. Ltd., for KRW 10,000,000,000, Korea Investment Promising Service Industry Investment Fund for KRW 1,300,000,000, and Korean Investment Core Competence Leveraged Fund for KRW 5,000,000,000. The bonds will be fully convertible into 2,808,988 common shares at a fixed conversion price of KRW 7,120 from August 25, 2018 to August 18, 2022. The bonds will not carry any coupon rate and will carry a yield to maturity rate of 2%. The bonds will mature on August 25, 2022. The subscription and expected payment date of the transaction is August 24, 2017 and August 25, 2017 respectively. The transaction was approved by the board of directors of the company.
CTCBIO Inc. is a Korea-based company engaged in the manufacture and marketing of pharmaceuticals, veterinary drugs, animal feed supplements and functional foods. It pharmaceuticals include anticancer agents, antibiotics, bone injury treatments, antiulcer agents, blood flow stimulants and others. Its veterinary drugs include vaccines, antibiotics, immune enhancers, enzymes, organic acid, avian influenza-related agents and others. Its animal feed supplements include pigments, kapok seed meal, sesame meal and others. Its functional food business includes the development and manufacture of enzymes, lactobacillus and related products mainly used in dairy products. It also involves in the development of pharmaceutical manufacturing technology and know-how. The Company distributes its products within domestic market and to overseas markets.
CTCBIO INC. 