LabGenomics Co., Ltd. announced that it expects to receive KRW 7 billion in funding from With Investment Co., Ltd. and other investors
July 02, 2018
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LabGenomics Co., Ltd. (KOSDAQ:A084650) announced a private placement of 3rd round unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 7,000,000,000 on July 3, 2018. The transaction will include participation from new investors, Rhinos KOSDAQ Venture Mezzanine Hedge Fund 1 for KRW 2,000,000,000, Rhinos K Bio Mezzanine Hedge Fund for KRW 1,000,000,000, Rhinos Plain Vanilla Hedge Fund 2 for KRW 1,000,000,000, Rhinos KOSDAQ Venture Public Stock Hedge Fund 1 for KRW 2,000,000,000, Rhinos Mezanine Hedge Fund 4 for KRW 500,000,000, and With Investment Co., Ltd. for KRW 500,000,000. The bonds are zero coupon. The bonds are 100% convertible into 765,110 common shares at fixed conversion price of KRW 9,149 per share. The conversion period start date is July 11, 2019 and end date is June 11, 2023. The bonds will mature on July 11, 2023. The bonds will be issued at par. The company also issued 1,045,750 Registered convertible preferred stock at a unit price of KRW 7,650 for gross proceeds of KRW 7,999,987,500 in the transaction. The preferred stock is issued at a premium. The subscription and payment date is July 5, 2018 and July 11, 2018 respectively. The transaction has been approved by board of directors of the company.
LabGenomics Co., Ltd is a Korea-based company engaged in the provision of in vitro diagnostic (IVD) services. The Company mainly provides IVD services, including general diagnostic check services, molecular diagnostic check services, and research and development services. The Companyâs IVD products include deoxyribonucleic acid (DNA) chips, polymerase chain reaction (PCR) kits and others. It also provides examination for breast cancer and colorectal cancer, biosensor for point of care testing (POCT) and others. It also provides healthy food.