ACT Co., Ltd. announced that it expects to receive KRW 11 billion in funding
June 07, 2021
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ACT Co., Ltd. (KOSDAQ:A138360) announced a private placement of 4th series unregistered coupon secured private convertible bond for proceeds of KRW 11,000,000,000 on June 7, 2021. The transaction will include participation from Jang-ho Kim for KRW 9,000,000,000, Young-joo Kim for KRW 1,000,000,000, and Aeja Cho for KRW 1,000,000,000. The bond will be issued at zero coupon rate, 4% interest rate to maturity and will mature on June 15, 2024. The bonds are fully converted into 2,455,357 shares for 6.62% stake at a fixed conversion price of KRW 4,408 per share from June 15, 2022 to May 15, 2024. The transaction has been approved by the board of directors of the company. The expected payment date is June 15, 2021.
Hyupjin Co Ltd, formerly ACT Co Ltd is a Korea-based company engaged in the manufacture and sale of raw materials of cosmetics. The Company provides bioconversion technology products, encapsulated products, natural extracts, synthetic products and others. Its products include Aquatouch L, which is made of glycerin, dimethicone, water and lecithin; Silkytouch L, which is made of water, dimethicone, glycerin, palmitoyl inulin, behenyl alcohol and 1,2 hexanediol; Phytoact Reliefer, which is made of phaseolus radiates seed extract, avena sativa meal extract, ethyhexylglycerin and others, as well as PhytoAct CosyPlex, Actosome InoCeramide E06, Actosome Retinol850, Actosome Retinal Palmitate, Actostem GinElixir and Actosome Deage, among others. It also provides electronic materials.
HYUPJIN CO., LTD. 