CU Medical Systems, Inc. announced that it expects to receive KRW 6.5 billion in funding
August 03, 2018
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CU Medical Systems, Inc. (KOSDAQ:A115480) announced a private placement of series 5 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 6,500,000,000 on August 3, 2018. The transaction will include participation from a group of investors including Sanghee Ko for KRW 1,000,000,000, Chul Park for KRW 1,000,000,000, and Sangseok Kim for KRW 200,000,000. The bonds will be issued at par. The bonds are zero-coupon and have yield to maturity of 3%. The bonds will mature on August 10, 2021. The bonds are fully convertible into 2,119,334 common shares at a fixed rate of KRW 3,067 from August 10, 2019 to July 10, 2021. The transaction was approved by the board of directors of the company. The subscription and payment date is August 7, 2018 and August 10, 2018 respectively.
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. 
