Abion Inc. announced that it expects to receive KRW 5.8 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Korea Investment & Securities Co., Ltd., Investment Arm and other investors
October 28, 2020
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Abion Inc. (XKON:A203400) announced a private placement of round 3 unregistered coupon non-guaranteed private equity convertible bonds for gross proceeds of KRW 5,800,000,000 on October 29, 2020. The transaction will include participation from Eureka Healthcare Hedge Fund 2, a fund managed by NH Investment & Securities Co., Ltd., Investment Arm for KRW 2,350,000,000, Eureka Long Short Public Offering Stock Multi-Strategy Hedge Fund 1, a fund managed by Korea Investment & Securities Co., Ltd., Investment Arm for KRW 950,000,000, Eureka Healthcare Fund 1 for KRW 1,500,000,000 and Rico ORUM Venture Company Hedge Fund 3 for KRW 1,000,000,000. The bonds are zero coupon bonds, bear a yield to maturity of 3% and will mature on November 6, 2023. The bonds are 100% convertible into 921,365 common shares at a conversion price of KRW 6,295 per share. The conversion period of the bonds starts on November 6, 2021 and ends on October 6, 2023. The transaction has been approved by the board of directors of the company. The subscription date and payment of the transaction are November 2, 2020 and November 6, 2020.
ABION Inc. is a Korea-based company principally engaged in the research, development and sales of pharmaceuticals. Along with its subsidiaries, the Company operates its business through four segments including product segment, contract research organization (CRO) service segment, research segment and other segment. The Product segment produces and sells diagnostic reagents, research reagents, and stem cell culture medium. The CRO Service segment provides histopathology analysis, molecular genetic analysis, cellular immunoassay, and antibody detection services. The Research segment is engaged in research and development of drugs for protein therapeutics, nucleic acid therapeutics, and antibody therapeutics.
Abion Inc. announced that it expects to receive KRW 5.8 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Korea Investment & Securities Co., Ltd., Investment Arm and other investors