Osteonic Co., Ltd. announced that it expects to receive KRW 12 billion in funding from Samsung Securities Co. Ltd., Investment Arm, Mirae Asset Daewoo Co., Ltd., Investment Arm, Shinhan Bank, Investment Arm, Shinhan Investment Corp., Investment Arm
October 12, 2020
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Osteonic Co., Ltd. (KOSDAQ:A226400) announced a private placement of 10th series non-guaranteed private convertible bonds for gross proceeds of KRW 12,000,000,000 on October 13, 2020. The transaction will include participation from IBK-KIP Growth Steppingstone No. 1 Private Equity Partnership for KRW 6,000,000,000, Suseong Asset Management Co., Ltd. fund 1, a fund managed by Mirae Asset Daewoo Co., Ltd., Investment Arm. for KRW 1,700,000,000, Suseong Asset Management Co., Ltd fund 2, a fund managed by Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 300,000,000, NH Hedge Asset Management Co., Ltd. fund 3, a fund managed by Samsung Securities Co. Ltd., Investment Arm for KRW 300,000,000, NH Hedge Asset Management Co., Ltd. fund 4, a fund managed by Samsung Securities Co. Ltd., Investment Arm for KRW 700,000,000, GVA Asset Management Co., Ltd. fund 5, a fund managed by Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 1,000,000,000, Dareum Asset Management fund 6, a fund managed by Shinhan Bank, Investment Arm for KRW 600,000,000, Dareum Asset Management fund 7, a fund managed by Shinhan Bank, Investment Arm for KRW 400,000,000 and Shinhan Investment Corp., Investment Arm for KRW 1,000,000,000. The bonds carry a coupon of 0% and interest rate to maturity of 1% and would mature on October 15, 2025. The bonds can be 100% converted into 3,501,604 common shares for 21.15% stake of the company at a fixed conversion price of KRW 3,427 per share. The conversion period is from October 15, 2021 to September 15, 2025. The transaction has been approved by board of directors of the company. The payment date of the transaction is October 15, 2020.
OSTEONIC Co., Ltd. is a Korea-based company mainly engaged in the manufacture and distribution of medical equipment. The Companyâs products mainly include cranio maxilla facial (CMF) systems and trauma systems. The products, including plates and screws, are used for fixing and healing broken bones in cranium, face, jaw, hands and feet. The Company also manufactures other medical equipment which is used in the process of fixing implants. The Company distributes its products within domestic market and to overseas markets.
Osteonic Co., Ltd. announced that it expects to receive KRW 12 billion in funding from Samsung Securities Co. Ltd., Investment Arm, Mirae Asset Daewoo Co., Ltd., Investment Arm, Shinhan Bank, Investment Arm, Shinhan Investment Corp., Investment Arm