Jeonjinbio Co., Ltd. announced that it expects to receive KRW 3.5 billion in funding from KB Securities Co., Ltd., Investment Arm and other investors
June 15, 2020
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Jeonjinbio Co., Ltd. (KOSDAQ:A110020) announced a private placement of 7th series unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 3,500,000,000 on June 16, 2020. The bonds have a coupon rate of 1% and maturity date of June 18, 2023. The bonds are convertible into 702,106 common shares representing 14.64% stake at a conversion price of KRW 4,985 and the conversion period of the bonds will start from June 18, 2021 and end on May 18, 2023. The transaction will include participation from KB Securities Co., Ltd., Investment Arm for KRW 2,000,000,000, Gicheol Oh for KRW 1,000,000,000, JooEun Seo for KRW 300,000,000 and Geun-bae Kim for KRW 200,000,000. The transaction has been approved by the board of directors of the company. The payment date and subscription date of the transaction is June 18, 2020. The bonds are subject to prohibition of exercise for 1 year and prohibition of division/merging.
JEONJIN BIO CO.,LTD is a company mainly engaged in the production and sale of harmful animal damage reduction products. The harmful animal damage reduction products include bird, mammal, reptile, pest and parasitic damage reduction agents. In addition, the Company manufactures and sells insecticide fragrance. The Company distributes its products within the domestic market and to overseas markets.
JEONJINBIO CO., LTD. 
