Abion Inc. announced that it expects to receive KRW 21 billion in funding from LabGenomics Co., Ltd., Atinum Investment Co., Ltd, NH Investment & Securities Co., Ltd., Investment and others
April 10, 2023
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Abion Inc. announced a private placement of Series 4 unsecured privately placed convertible bonds with bearer interest for the gross proceeds of KRW 21,000,000,000 on April 11, 2023. The transaction will include participation from new investors LabGenomics Co., Ltd. for KRW 500,000,000, Atinum Growth Fund 2020, a fund managed by Atinum Investment Co., Ltd. for KRW 5,000,000,000, Korea Investment Re-Up II Fund for KRW 10,000,000,000, NH Investment & Securities (from the position of trustee of Starquest KOSDAQ Venture General Private Equity Investment Trust No. 3 for KRW 750,000,000 and returning investor NH Investment & Securities Co., Ltd., Investment Arm for KRW 4,750,000,000. The bonds bear zero interest rate and 5% yield to maturity, matures on April 14, 2028. The bonds are 100% convertible into 2,399,177 common shares at a fixed conversion price of KRW 8,753 per share from April 14, 2024 to March 14, 2028. The transaction has been approved by the shareholders of company and is expected to close on April 14, 2023. The bonds are restricted to a hold period of one year.
On August 21, 2023, the company announced that the Series 4 bonds are convertible into 2,554,433 shares at a fixed conversion price of KRW 8,221 per share.
On October 16, 2023, the company announced that the series 4 bonds are convertible into 2,789,956 shares at a fixed conversion price of KRW 7,527 per share.
On January 14, 2024, the company announced that the series 4 bonds are convertible into 2,801,120 shares at a fixed conversion price of KRW 7,497 per share.
ABION Inc. is a Korea-based company principally engaged in the research, development and sales of pharmaceuticals. Along with its subsidiaries, the Company operates its business through four segments including product segment, contract research organization (CRO) service segment, research segment and other segment. The Product segment produces and sells diagnostic reagents, research reagents, and stem cell culture medium. The CRO Service segment provides histopathology analysis, molecular genetic analysis, cellular immunoassay, and antibody detection services. The Research segment is engaged in research and development of drugs for protein therapeutics, nucleic acid therapeutics, and antibody therapeutics.
Abion Inc. announced that it expects to receive KRW 21 billion in funding from LabGenomics Co., Ltd., Atinum Investment Co., Ltd, NH Investment & Securities Co., Ltd., Investment and others