NewGLAB CO.,LTD announced that it expects to receive KRW 18 billion in funding
October 15, 2019
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NewGLAB CO.,LTD (KOSDAQ:A214870) announced a private placement of episode 5 bearer-of-money guarantor private equity convertible bonds for gross proceeds of KRW 18,000,000,000 on October 16, 2019. The transaction will include participation from individual investors, Soon Sang Kim, Youngso Kim, Beomjun Kim, Seo Ji Hong, Seocheol for KRW 500,000,000 each, Kim Wook, Jin Sung Kim, Seo Yu-rim, Yoonmi Seo, Hanho Ryu, Hyunsung Yoon for KRW 1,000,000,000 each, Ha Yong Kim for KRW 2,000,000,000, Moon Sung Kyun for KRW 1,500,000,000, Yoon Se Joong for KRW 6,000,000,000. The bonds carry surface interest rate of 2% and have maturity interest rate of 3%. The bonds will mature on November 8, 2022. The bonds are fully convertible into 1,926,163 common shares of the company at a fixed conversion price of KRW 9,345 per conversion share from November 8, 2020 to October 8, 2022. The transaction is expected to close on November 8, 2019. The transaction has been approved by the board of directors of the company.
NewGLab Pharma Co Ltd, formerly NewGLab Co Ltd, is a company mainly engaged in the manufacturing and sale of closed-circuit television (CCTV) cameras. The Company's product portfolio consists of general analog cameras that used for CCTVs, high definition (HD) analog cameras, HD-serial digital interface (SDI) cameras, extend (EX)-SDI cameras, internet protocol (IP) cameras that used for network CCTVs, digital video recorders (DVRs) that used for image storage devices, network video recorders (NVRs) and others. In addition, the Company is involved in the business of 5G smartphone distribution. The Company distributes its products within domestic market and to overseas markets.
NEWGLAB PHARMA CO.,LTD 
