C-TRI Co., Ltd. announced that it expects to receive KRW 15 billion in funding from Kiwoom Securities Co., Ltd., Investment Arm, Synergy Partners Co., Ltd., Timefolio Co.,Ltd., Lime Asset Management Co., Ltd., ANDA Asset Management Co., Ltd.
July 27, 2016
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C-TRI Co., Ltd. (KOSDAQ:A047920) announced a private placement of ninth unregistered/unsecured unguaranteed private convertible bonds for proceeds of KRW 5,000,000,0000 and first unregistered coupon unguaranteed unsecured private bonds for KRW 10,000,000,000 for total gross proceeds of KRW 15,000,000,000 on July 27, 2016. The ninth unregistered/unsecured unguaranteed private convertible bonds will be issued to Timefolio Co.,Ltd. The first unregistered coupon unguaranteed unsecured private bonds will be issued to Lime Asset Management Co., Ltd. for KRW 2,500,000,000, ANDA Asset Management Co., Ltd. for KRW 2,500,000,000, Kiwoom Securities Co., Ltd., Investment Arm for KRW 2,500,000,000, and Synergy Partners Co., Ltd. for KRW 2,500,000,000. The bonds will be issued at par. The company will also issue warrants in the transaction. The bonds carry a fixed coupon of 1% and have yield to maturity of 1%. The ninth unregistered/unsecured unguaranteed private convertible bonds can be fully converted into common shares of the company at a fixed conversion price of KRW 8,180 from July 28, 2017 to June 28, 2019. The bonds will mature on July 28, 2019.
Timefolio Co.,Ltd. will invest through Timefolio The Time-M Hedge Fund, Timefolio The Time-H Hedge Fund, Timefolio The Time-A Hedge Fund, Timefolio The Time-Q Hedge Fund for KRW 800,000,000 each respectively. Lime Asset Management Co., Ltd. will invest through Lime Fund 1 and Lime Fund 2 for KRW 1,800,000,000 and KRW 700,000,000 respectively. ANDA Asset Management Co., Ltd. will invest through Anda Cruise Hedge Fund 1, Anda Planet Hedge Fund 1, and Anda Voyager Hedge 1 for KRW 1,000,000,000, KRW 500,000,000, and KRW 1,000,000,000 respectively. The warrants are fully exercisable into common shares of the company at an exercise price of KRW 8,180 from July 28, 2017 to June 28, 2019. The subscription and the payment date of the transaction is July 28, 2016. The transaction has been approved by the board of directors of the company.
HLB Pharmaceutical Co Ltd, formerly Mediforum Pharmaceutical Inc, is a Korea-based company mainly engaged in the manufacture and distribution of pharmaceutical products. The Company mainly manufactures and sells pharmaceutical products including cimetidine tablets, rozatin tablets, rabeprazole tablets, rozatinplus tablets, mosapia tablets and other ethical the counter (ETC) drugs; gynobetadine vaginal suppositories, and other over the counter (OTC) drugs; aceclofenac tablets, revotec tablets and other commissioned ETC drugs; L-carnitine tablets, elcatan tablets, hepatine liquids and other commissioned OTC drugs.