GemVax Technology Co., Ltd. announced that it expects to receive KRW 24.25 billion in funding
January 04, 2018
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GemVax Technology Co., Ltd. (KOSDAQ:A041590) announced a private placement of 13th series unregistered and unsecured convertible bonds for KRW 14,250,000,000 and 14th series unregistered unsecured private convertible bonds for KRW 10,000,000,000, for aggregate gross proceeds of KRW 24,250,000,000 on January 4, 2018. The bonds will mature on February 2, 2021 and will be 100% convertible into common shares at a conversion price of KRW 4,837 per share. The 13 series bonds will not bear any interest and will have a yield to maturity is 4%. The 14th series bonds will bear a fixed coupon rate of 4% per annum and yield to maturity of 4%.
Flask Co Ltd, formerly Gemvaxzio Co Ltd, is a Korea-based company engaged in the interior business. The Company operates its business through three segments. The Interior Business segment is involved in the businesses of interior design and construction, such as furniture design, manufacture and installation, as well as architectural design and construction. The Energy Business segment mainly engages in the construction of renewable energy devices and facilities, such as ice thermal storage cooling systems and electricity storage systems (ESSs). The Leasing Business segment mainly engages in the leasing of shops.
FLASK CO., LTD. 
