HLB innoVation Co.,Ltd. announced that it expects to receive KRW 55.99999522 billion in funding from a group of investors
February 31, 2023
Share
PSMC CO., Ltd announced a private placement of 25,933,605 common shares at a price of KRW 964 per share for the gross proceeds of KRW 24,999,995,220, Series 2 Bearer type non-interest-bearing non-guaranteed privately placed convertible bonds for the gross proceeds of KRW 6,000,000,000, Series 1 Bearer type non-interest-bearing non-guaranteed privately placed convertible bonds for the gross proceeds of KRW 25,000,000,000; aggregate proceeds of KRW 55,999,995,220 on February 1, 2023. The transaction will include participation from HLB Co., Ltd. for 13,485,477 shares, HLB Life Science Co., Ltd. for 2,074,688 shares, HLB Pharmaceutical Co., Ltd for 2,074,688 shares, HLB Therapeutics Co.,Ltd. for 2,074,688 shares, KNOTUS Co.,Ltd for 2,074,688 shares, HLB Investment Co., Ltd. for 2,074,688 shares, Jin & Partners Company for 2,074,688 shares. The transaction has been approved by shareholders of the company. The shares have a hold period of 1 year. The transaction is expected to close on March 10, 2023.
Series 2 Bonds - The transaction will include participation from Verismo Therapeutics Asia Co., Ltd. for KRW 1,000,000,000, KR3 Limited Liability Company for KRW 800,000,000, WithR Limited Liability Company for KRW 600,000,000, Gye-suk Kim for KRW 400,000,000, Byungsoo Kim for KRW 2,000,000,000, F&F Co., Ltd for KRW 800,000,000 and Seungwoo Yeo for KRW 400,000,000. The series 2 bonds bear zero interest rate and are 100% convertible into 5,870,841 common shares at a fixed conversion value of KRW 1,022 from February 15, 2024 to January 15, 2026. The bonds will mature on February 15, 2026. The bonds are restricted to a hold period of one year from the date of issuance and is expected to close on February 15, 2023.
Series 1 Bonds - The transaction will include participation from Nomad No. 3 Association for KRW 25,000,000,000. The series 1 bonds bear zero interest rate and are 100% convertible into 24,461,839 common shares at a fixed conversion value of KRW 1,022 from August 15, 2024 to January 15, 2026. The series 1 bonds will mature on February 15, 2026. The bonds are restricted to a hold period of one year from the date of issuance and is expected to close on February 15, 2023.
HLB bioStep Co Ltd, formerly KNOTUS Co Ltd, is a Korea-based company mainly engaged in non-clinical trial business. The Company operates through three segments. The Non-clinical Test Consignment Agency Business segment conducts non-clinical is mainly engaged in the test on newly developed substances such as new drugs ,and tests the efficacy and pharmacodynamics of substances. In addition, this segment is engaged in the test of the safety of substances. The Bioinfra Business segment is engaged in animal laboratory design, construction, and maintenance. In addition, this segment provides equipment delivery. The Pet Medical Business segment is engaged in the development of veterinary medicine and the sale of companion animal products.
HLB BIOSTEP CO.,LTD. 
