INSANGA Inc. announced that it expects to receive KRW 1.1 billion in funding from Yuanta Investment
September 19, 2016
Share
INSANGA Inc. announced a private placement of fourth registered unguaranteed private convertible bonds for KRW 1,100,000,000 on September 20, 2016. The bonds will be issued to new investor Tongyang Agrifood Investment Fund No. 2, a fund managed by Yuanta Investment. The zero coupon bonds will have yield to maturity of 4% per annum. The bonds will be issued at par. The bonds will mature on September 27, 2019. The bonds are 100% convertible into common shares at KRW 4,550 per share from September 27, 2017 to September 11, 2019. The transaction is expected to be completed by September 26, 2016. The transaction has been approved by board of directors of the company.
INSAN Inc. formerly IBKS No.8 Special Purpose Acquisition Company, is a Korea-based company mainly engaged in the manufacture and sell of bamboo salts and bamboo salt application food. The bamboo salt products are inclusive of insan bamboo salt original, insan purple bamboo salt, daily bamboo salt and others. In addition, the Company is involved in the provision of duck extract, soy sauces, soybean pastes, red pepper pastes, as well as pills and others. The Company distributes its products within domestic market and to overseas markets, such as America, Thailand and other Asian countries.
INSAN INC. 
