ACT Co., Ltd. announced that it expects to receive KRW 10 billion in funding
October 21, 2020
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ACT Co., Ltd. (KOSDAQ:A138360) announced a private placement of 5th series unregistered coupon secured private convertible bond for proceeds of KRW 10,000,000,000 on October 22, 2020. The transaction will include participation from Graf Fund. The bond is issued at 1% coupon rate, 1% interest rate to maturity and will mature on October 29, 2023. The bonds can be 100% converted into 1,919,017 common shares for 8.4% stake of the company at a fixed conversion price of KRW 5,211 per share. The conversion period is from October 29, 2021 to September 29, 2023. The transaction has been approved by the board of directors of the company. The subscription date is October 22, 2020 and the payment date is October 29, 2020.
Hyupjin Co Ltd, formerly ACT Co Ltd is a Korea-based company engaged in the manufacture and sale of raw materials of cosmetics. The Company provides bioconversion technology products, encapsulated products, natural extracts, synthetic products and others. Its products include Aquatouch L, which is made of glycerin, dimethicone, water and lecithin; Silkytouch L, which is made of water, dimethicone, glycerin, palmitoyl inulin, behenyl alcohol and 1,2 hexanediol; Phytoact Reliefer, which is made of phaseolus radiates seed extract, avena sativa meal extract, ethyhexylglycerin and others, as well as PhytoAct CosyPlex, Actosome InoCeramide E06, Actosome Retinol850, Actosome Retinal Palmitate, Actostem GinElixir and Actosome Deage, among others. It also provides electronic materials.
HYUPJIN CO., LTD. 
