BTONE CO.,Ltd announced that it expects to receive KRW 20 billion in funding
October 15, 2020
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BTONE CO.,Ltd (KOSE:A101140) announced a private placement of series 6 Non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 20,000,000,000 on October 16, 2020. The transaction will include participation from Hoyeon 3 Fund. The bonds will mature on November 30, 2023 and will not carry 1% interest coupon and 2% yield to maturity. The bonds will carry lump sum redemption on its maturity. The bonds will be fully convertible into the 5,357,621 registered common stock of the company at a conversion price of KRW 3,733 per share for 12.75% stakes in the company. The conversion period of the bonds will be from November 30, 2021 to October 30, 2023. The bonds will be issued at its par value. The transaction is expected to close on November 30, 2020 and subscription date will be October 21, 2020. The transaction was approved by the board of directors of the company.
InBioGen Co Ltd, formerly BTOne Co Ltd, is a company mainly engaged in the operation of the kiosk business. The Company operates its business through four segments. The Kiosk Business segment is engaged in the operation of unmanned payment machine business in restaurants, karaoke rooms, and personal computer (PC) rooms. The Footwear Business segment is mainly engaged in the sale of children's shoes and adult shoes. The Wood Pellet Business segment mainly sells wood pellets and sawdust. The Other Business segment engages in online and offline education business to foster human resources in the FinTech service, platform business, and block chain industry.
INBIOGEN CO., LTD. 
