Biosmart Corporation announced that it expects to receive KRW 12 billion in funding from IBK Capital Corporation, Hanyang Securities Co. Ltd., Investment Arm, and other investors
September 29, 2016
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Biosmart Corporation (KOSDAQ:A038460) announced a private placement of 11th unregistered/unsecured coupon unguaranteed private convertible bonds for gross proceeds of KRW 12,000,000,000 on September 30, 2016. The transaction will include participation from new investors IBK Group IP Value-up Fund, a fund managed by IBK Capital Corporation for KRW 2,000,000,000, Hanyang Securities Co. Ltd., Investment Arm for KRW 5,000,000,000, Aion Arche Private Investment Trust for KRW 3,000,000,000, and Aion Krios Private Investment Trust for KRW 2,000,000,000. The bonds will mature on April 5, 2021. The bonds do not carry any annual coupon and yield to maturity of 2%. The bonds will be 100% convertible into common shares of the company at a fixed conversion price of KRW 6,693 per share from October 5, 2017 to March 5, 2021. The board of directors of the company approved the transaction. The subscription and payment date is October 5, 2016. The bonds will be issued at par.
BioSmart Co., Ltd. is a Korea-based company mainly engaged in credit card business. The Company produces and issues domestic credit cards and electronic money systems under the brand name BS, and provides credit card issuing services, mailing systems, issuing equipment such as embossers and transcribers, and sending machines such as card sending machines and mail sending machines. Its card category includes magnetic stripe cards, integrated circuit (IC) cards, smart cards, combination cards, radio frequency (RF) cards, global systems for mobile communications (GSM) cards and others. The Company also involves in the manufacture of biological chips, cosmetics and health food through its affiliates.
Biosmart Corporation announced that it expects to receive KRW 12 billion in funding from IBK Capital Corporation, Hanyang Securities Co. Ltd., Investment Arm, and other investors
BIOSMART CO.,LTD. 
