Huons Bio Pharma Co., Ltd. announced that it expects to receive KRW 101.8984 billion in funding from Imeik Technology Development Co.,Ltd.
June 23, 2021
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Huons Bio Parma Co.,Ltd. announced a private placement of 800,000 common shares at KRW 127,373 per share for gross proceeds of KRW 101,898,400,000 on June 24, 2021. The shares carry a par value of KRW 500 each. The transaction will include participation from new investor Imeik Technology Development Co.,Ltd. The transaction is to place by way of third party capital increase. The payment date for the shares is expected to be September 30, 2021. The transaction has been approved by board of directors of the company. The transaction is subject to approval from investor's shareholders. Post completion of transaction, M&A Imeik Technology Development Co.,Ltd. will hold 1,220,000 shares for 25.4% stake and Huons Global Co., Ltd. will hold 4,000,000 shares for 74.6% stake in the company. The company announced that the transaction has been approved at the 23rd meeting of the company's 2nd directorate and is subject to shareholder approval.
On August 5, 2021, the investor held its 3rd extraordinary general meeting of 2021 and approved the transaction.
Imeik Technology Development Co Ltd is a China-based company mainly engaged in the research and development, production and sales of biomedical materials. The Company focuses on the development and transformation of biomedical materials, and is committed to the development of biomedicine such as recombinant proteins and peptides. The Company has realized the industrialization of injection-type sodium hyaluronate series products and polydioxanone facial implants, and has established a product technology transformation platform for biomedical materials such as medical chitosan and polylactic acid. The Company's self-developed products are mainly aimed at the repair of fold skin on the face and neck. The clinical applications of its products cover medical cosmetology, surgical repair, and treatment of metabolic diseases. The Company mainly conducts its businesses in the China market.