Astrogen Co.,Ltd. announced that it expects to receive KRW 6.000006848 billion in funding from Partners Holdings Co., Ltd., Daesung Private Equity, Inc., KB Securities Co., Ltd., Investment Arm, Wooshin Venture Investment Corp.
September 10, 2020
Share
Astrogen Co.,Ltd. announced that it will issue 549,854 convertible preferred shares at KRW 10,912 per share for gross proceeds of KRW 6,000,006,848 on September 11, 2020. The transaction will include participation from Partners Growth Support Fund 8, a fund managed by Partners Holdings Co., Ltd. for 229,106 shares, KB Securities Co., Ltd., Investment Arm for 91,642 shares, Wooshin Venture Investment Corp. for 45,822 shares, Daesung W-Jump up Fund, a fund managed by existing investor Daesung Private Equity, Inc. (KOSDAQ:A027830) for 91,642 shares and existing investor, Daesung Warm-hearted Impact Fund, a fund managed by Daesung Private Equity, Inc. (KOSDAQ:A027830) for 91,642 shares. The par value of the share is KRW 500. The shares are redeemable. The company will issue share through third party allocation. Post-closing of the transaction the number of preferred shares issued by the company will increase from 840,055 shares to 1,389,909 shares. The preferred shares are convertible into 549,854 shares at the fixed conversion price of KRW 10,912 per share from September 29, 2020 to September 28, 2030. The transaction is expected to close on September 28, 2020. The transaction is approved by the board of directors of the company.
Daesung Private Equity, Inc. is a Korea-based venture capital company. The Company's principal activities consist of venture investment, corporation restructuring investment and venture incubation. With its venture capital business, the Company provides services of financial consulting, initial public offering (IPO) consulting, institutional improvement for business transparency, judicial and tax affairs supports and investor relation supports.