Hwail Pharmaceutical Co., Ltd. (KOSDAQ:A061250) announced a private placement of 1,556,602 common shares at a price of KRW 10,600 per share for gross proceeds of KRW 16,499,981,200 on November 18, 2020. The shares are issued at a discount of 10% on the market price. The transaction will include participation from Osung Advanced Materials Co., Ltd. KOSDAQ:A052420), Hwail Pharm Co.
Ltd. Employee Stock Ownership Association and Blue K Holdings. After capital increase, Osung Advanced Materials Co., Ltd. KOSDAQ:A052420) and Blue K Holdings will hold 3.16% and 2.94% stakes in the company respectively. The paid up capital of the company will be KRW 16,500,000,000.
The transaction is expected to close date is 15th of the next month. The transaction has been approved by the board of directors of the company. The shares are issued through third party allocation increase method.