CU Healthcare co., Ltd. announced that it has received KRW 5 billion in funding from CU Medical Systems, Inc.
March 07, 2019
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CU Healthcare co., Ltd. announced a private placement of 3rd series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on March 8, 2019. The round will include participation from existing investor CU Medical Systems, Inc. (KOSDAQ:A115480). The bonds do not carry any annual coupon and will have yield to maturity of 3% per annum. The bonds will be 100% convertible into common shares of the company at a fixed conversion price of KRW 5,000 per share from March 8, 2020 to August 8, 2023. The bonds will be issued at par and will mature on September 8, 2023. The board of directors of the company approved the transaction.
CU MEDICAL SYSTEMS, INC. is a Korea-based company mainly engaged in the development, manufacture and marketing of medical equipment. The Company's product portfolio consists of medical equipment used for emergency care, utility health (U-Health) care and rehabitation care. Its emergency care equipment includes defibrillators, automated external defibrillator (AED) trainers, mannequins and data management software. Its U-Health care equipment includes telemetry systems, AED management systems and wearable electrocardiogram (ECG) sensors. Its rehabitation care equipment includes neuromuscular electrical stimulators. The Company distributes its products within domestic market and to overseas markets.
CU MEDICAL SYSTEMS, INC. 
