CU Medical Systems, Inc. announced that it expects to receive KRW 2 billion in funding from Sangsangin Plus Savings Bank, Investment Arm
March 26, 2021
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CU Medical Systems, Inc. (KOSDAQ:A115480) announced a private placement of 10th series unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 2,000,000,000 on March 26, 2021. The transaction will include participation from new investor, Sangsangin Plus Savings Bank, Investment Arm for KRW 2,000,000,000. The bonds will carry a coupon rate of 4%, yield to maturity of 7% and would mature on March 29, 2024. The bonds will be fully convertible into 1,056,524 shares of the company representing 3.92% stake at a fixed conversion price of KRW 1,893 per share between the period of March 29, 2022 and February 29, 2024. The subscription and the payment date is March 29, 2021. The transaction has been approved by the board of directors of the company.
CU MEDICAL SYSTEMS, INC. is a Korea-based company mainly engaged in the development, manufacture and marketing of medical equipment. The Company's product portfolio consists of medical equipment used for emergency care, utility health (U-Health) care and rehabitation care. Its emergency care equipment includes defibrillators, automated external defibrillator (AED) trainers, mannequins and data management software. Its U-Health care equipment includes telemetry systems, AED management systems and wearable electrocardiogram (ECG) sensors. Its rehabitation care equipment includes neuromuscular electrical stimulators. The Company distributes its products within domestic market and to overseas markets.
CU MEDICAL SYSTEMS, INC. 
