L&K Biomed Ltd. announced that it expects to receive KRW 20 billion in funding from NH Investment & Securities Co., Ltd., Asset Management Arm, BNK Securities Co., Ltd., Investment Arm, Core Trend Investment Ltd., Kiwoom Securities Co., Ltd., Investment Arm and other investors
July 14, 2021
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L&K Biomed Ltd. announced a private placement of round 9 Unregistered non-guaranteed private convertible bonds for gross proceeds of KRW 20,000,000,000 on July 15, 2021. The transaction will include participation from NH Absolute Return Specialty Investment Type Private Investment Trust No. 1, a fund managed by NH Investment & Securities Co., Ltd., Asset Management Arm for KRW 1,000,000,000, BNK Securities Co., Ltd., Investment Arm for KRW 2,000,000,000, Core Trend Investment Ltd. for KRW 1,000,000,000, Kiwoom Securities Co., Ltd., Investment Arm for KRW 7,000,000,000 and other investors. The bonds are zero coupon bonds with no yield to maturity, will mature on July 16, 2026 and are being issued at par value. The bonds are fully convertible into 962,788 shares at a conversion price of KRW 20,773 per share from July 16, 2022 to June 16, 2026. The transaction has been approved by board of directors of the company and is expected to close on July 16, 2021. The bonds are subject to a hold period of one year.
L&K BIOMED CO., LTD. is a Korea-based company mainly engaged in the research, development and manufacture of medical devices. The Companyâs products consist of medical devices and medical equipment. Its medical devices include cervical spine products, such as cervical plate systems, cervical screw systems and cervical cage system, as well as thoracolumbar spine products and others. Its medical equipment includes three dimensional (3D) full-body scanners. It also engages in the bio-similar business, which develops cell engineering.
L&K Biomed Ltd. announced that it expects to receive KRW 20 billion in funding from NH Investment & Securities Co., Ltd., Asset Management Arm, BNK Securities Co., Ltd., Investment Arm, Core Trend Investment Ltd., Kiwoom Securities Co., Ltd., Investment Arm and other investors