NewGLAB Pharma CO.,LTD announced that it expects to receive KRW 35 billion in funding from DB Financial Investment Co.,Ltd., Investment Arm
November 29, 2021
Share
NewGLAB Pharma CO.,LTD announced a private placement of series 8 unregistered coupon nonguaranteed private convertible bond for a gross proceeds of KRW 35,000,000,000 on November 30, 2021. The transaction will include participation from returning investor DB Financial Investment Co.,Ltd., Investment Arm. The bonds have a coupon rate of 0% and yield to maturity of 2%. The bonds will mature on January 25, 2025. The bonds will be 100% converted into 2,924,220 common shares at a fixed conversion price of KRW 11,969 per share for an equity stake of 8.63%. The conversion period is from January 25, 2023 to December 25, 2024. The payment date of the transaction is January 25, 2022. The securities issued in the transaction are subject to a lock up period of one year. 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.