NKMAX CO., Ltd. announced that it expects to receive KRW 29.9999702 billion in funding from a group of investors
November 25, 2020
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NKMAX CO., Ltd. (KOSDAQ:A182400) announced a private placement of round 11 non-guaranteed private equity convertible bonds with bearer interest for gross proceeds of KRW 23,200,000,000 to a group of investors including Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 2,000,000,000, Korea Development Bank, Investment Arm for KRW 5,000,000,000 and Multi Asset Global Investments Co.,Ltd. for KRW 5,700,000,000 and 517,108 convertible preferred stock at a price of KRW 13,150 per convertible preferred stock for gross proceeds of KRW 6,799,970,200 to Asset One Asset Management Co., Ltd. for 456,272 convertible preferred shares and KTB Asset Management Co., Ltd. for 60,836 convertible preferred shares, through third-party allotment on November 26, 2020. The bonds are zero coupon bonds with a yield to maturity of 1%, will mature on November 30, 2025 and are 100% convertible into 1,732,765 shares at a conversion price of KRW 13,389. The conversion period of the bonds will start on November 30, 2021 and end on October 30, 2025. Each preferred stock is convertible in to one common shares of the company at a price same as issue price. The conversion start period for preferred stock is December 03, 2021 and ends on December 02, 2025. The issue of bonds is approved by the board of directors of the company. The subscription and payment date of the bonds is November 30, 2020 and the payment date for the convertible preferred stock is December 3, 2020.
NKMAX Co., Ltd., formerly ATGen, is a Korea-based company principally engaged in the research, development, manufacturing and supply of biological products. The Company is involved in the production and sale of recombinant proteins, monoclonal antibodies, NK cell activity test kits, cell therapy products, and in the provision of other related services. The NK cell activity test kits are provided under the name of NK Vue. The Company distributes its products within domestic market and to overseas markets.