GenoFocus, Inc. announced that it expects to receive KRW 23.2 billion in funding
June 28, 2022
Share
GenoFocus, Inc. announced private placement of series 4th unregistered nonguaranteed private convertible bond for gross proceeds of KRW 23,200,000,000 on June 28, 2022. The transaction will include participation from JB Mezzanine New Technology Business Investment Fund 1 for KRW 3,000,000,000, Mirae Asset Securities Co. Ltd. for KRW 1,000,000,000, Samsung Securities Co., Ltd. for KRW 2,700,000,000, KB Securities Co., Ltd., for KRW 800,000,000, NH Investment & Securities Co., Ltd. for KRW 8,500,000,000, Hanwha Investment & Securities Co., Ltd. for KRW 1,500,000,000, Korea Investment & Securities Co., Ltd. for KRW 1,700,000,000, Shinhan Investment Corp. for KRW 1,000,000,000, Hanyang Securities Co. Ltd. for KRW 1,000,000,000, SUSUNG ASSET MANAGEMENT Co., Ltd. for KRW 2,000,000,000. The bonds carry a surface interest rate of 0% and interest to maturity of 2%. The bonds will mature on July 6, 2027. The bonds can be 100% converted into 4,036,888 shares representing 15.2% stake at a fixed conversion price of KRW 5,747 per share from July 7, 2023 to June 6, 2027. The transaction is expected to close by July 6, 2022. The transaction has been approved by the board of directors of the company.
GenoFocus, Inc. is a Korea-based company principally engaged in the development, manufacture and distribution of enzymes. The Company mainly manufactures catalases, lactase, phytases and other enzymes. The catalases are mainly used for industry, including processing of semiconductors, petroleum and propylene oxide, medical therapeutics, food processing, contact-lens and other industries. The lactases are mainly used for food processing including processing of milk, yogurt and milk serum. The phytases are mainly used for processing of animal feed. And the Company is exploring new businesses, engaged in development of other enzymes including therapeutic enzymes, chemical agents and others.
GENOFOCUS, INC. 
