WooGene B&G Co., Ltd. announced that it expects to receive KRW 5 billion in funding
May 30, 2019
Share
WooGene B&G Co., Ltd. (KOSDAQ:A018620) announced a private placement of 2nd unregistered unguaranteed unsecured private convertible bonds for gross proceeds of KRW 5,000,000,000 on May 30, 2019. The bonds will be issued through domestic private convertible bond issuance. The transaction included participation from A1 Fund 1 for KRW 2,300,000,000, A1 Fund 2 for KRW 1,300,000,000, A1 Fund 3 for KRW 800,000,000, A1 Fund 4 for KRW 350,000,000, and A1 Fund 5 for KRW 250,000,000. The bonds carry coupon rate of 3% per annum. The bonds will mature on June 3, 2023. The bonds are 100% convertible into 1,627,074 shares of the company at a conversion price of KRW 3,073 per share which represents 6.27% stake in the company. The conversion period starts from June 3, 2020 and ends on May 3, 2023. The transaction has been approved by the board of directors of the company. The transaction is expected to close on June 3, 2019.
WooGene B&G Co., Ltd. is a Korea-based company mainly engaged in the manufacture of veterinary drugs. The Companyâs products include anti-infective, bulk materials, probiotics, enzymes, antiparasitics, hormone preparations, vaccines, aquacultures, anesthetics, teat dips, disinfectants, pet cure drugs, calcium injections, antiphlogistic injections, enhance metabolism injections, diarrhea remedy injections, sedative injections for swine, toxin binders, pigmentation drugs and others. The Company also provides anti-inflammatory enzymes under the brand name SKD, which are used for human beings. The Company distributes its products within domestic market and to overseas markets, including Iran, Vietnam, Philippines, Brazil and others.
WOOGENE B&G CO., LTD 
