Mediforum Pharmaceutical Incorporation announced that it expects to receive KRW 20 billion in funding from Ibest Investment Company Ltd., Hanyang Securities Co. Ltd., Investment Arm, EBEST Investment & Securities Co., Ltd.
April 26, 2020
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Mediforum Pharmaceutical Incorporation (KOSDAQ:A047920) announced a private placement of series 11 unregistered coupon non guaranteed private convertible bond for the gross proceeds of KRW 20,000,000,000 on April 27, 2020. The transaction will include participation from Ibest Investment Company Ltd. and Hanyang Securities Co. Ltd., Investment Arm for KRW 10,000,000,000 each.
The bonds carry coupon rate of 1% and surface interest rate of 1% and will mature on June 29, 2023. The bonds are 100% convertible into 3,556,188 registered common shares of the company at conversion price of KRW 5,624 per share. The conversion period will start on June 29, 2021 and end on May 29, 2023.
The payment date is June 29, 2020. The transaction was approved by board of directors of the company.
EBEST INVESTMENT & SECURITIES Co., Ltd., formerly E*TRADE Korea Co., Ltd, is a Korea-based company specialized in the provision of financial services. The Company is mainly engaged in the brokerage, dealing and underwriting of securities businesses, covering stocks, options, futures, government bonds, corporate bonds, foreign securities and financial derivatives products. It also involves in proprietary trading business, and provides consulting services. On March 8, 2013, 3Nod Digital Group Co., Ltd. announced that the Company had sold its entire 6.63% skake in 3Nod Digital Group Co., Ltd.
Mediforum Pharmaceutical Incorporation announced that it expects to receive KRW 20 billion in funding from Ibest Investment Company Ltd., Hanyang Securities Co. Ltd., Investment Arm, EBEST Investment & Securities Co., Ltd.
EBEST INVESTMENT & SECURITIES CO., LTD. 
