DAE HWA Pharmaceutical Co., Ltd. announced that it expects to receive KRW 20 billion in funding
March 28, 2019
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DAE HWA Pharmaceutical Co., Ltd. (KOSDAQ:A067080) announced a private placement of 1st series unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 20,000,000,000 on March 28, 2019. The transaction will include participation from new investors, Lime Fund 1 for KRW 2,000,000,000, Lime Fund 2 for KRW 11,000,000,000, Lime Fund 3 for KRW 2,000,000,000, and Lime Fund 4 for KRW 5,000,000,000. The bonds will be issued at par. The bonds does not carry any coupon rate and have yield to maturity of 2%. The bonds will mature on March 29, 2024. The bonds will be fully convertible into 945,447 shares of the company at a fixed conversion price of KRW 21,154 between the period of March 29, 2020 to February 29, 2024. The subscription and the payment date is March 29, 2019. The transaction has been approved by the board of directors of the company.
DAE HWA PHARM CO.,LTD. is a Korea-based company engaged in the manufacture of pharmaceuticals. The Companyâs products include skeletal muscle relaxants, gastro-intestinal drugs, corticosteroids, antihistamines, cardiovascular drugs, drugs for liver diseases, vitamins, tonics, antibiotics, injections, topical drugs, anti-inflammatory enzymes, analgesics, antipyretics, plaster, cough suppressants, expectorants and mucolytics, drugs for hemorrhoid disease and other prescription drugs, as well as over-the-counter (OTC) drugs. The Company distributes its products within domestic market and to overseas markets. On August 22, 2013, it acquired a certain shares of a Korea-based company, which is mainly engaged in the manufacture of medicine raw materials and development of medical devices. After the transaction, the Company held a 100% stake of the Korea-based company.
DAE HWA PHARMACEUTICAL CO., LTD. 