Solco Biomedical Co. Ltd. announced that it expects to receive KRW 3.5 billion in funding
August 28, 2016
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Solco Biomedical Co. Ltd. (KOSDAQ:A043100) announced a private placement of 10th unsecured coupon unregistered unguaranteed convertible bonds for gross proceeds of KRW 3,500,000,000 on August 29, 2016. The transaction will include participation from new investor SG Investment Advisory Co., Ltd. The bonds carry fixed coupon rate of 5% and fixed yield to maturity of 5%. The bonds will mature on August 30, 2019. The bonds are convertible into common shares of the company at fixed conversion price of KRW 1,224 per share. The conversion period is from August 30, 2017 to July 30, 2019. The company will issue bonds at par. The subscription date and payment date is August 30, 2016. The transaction has been approved by the board of directors of the company.
Solco Biomedical Co., Ltd. is a Korea-based company mainly engaged in the manufacture of medical equipment and healthcare products. The Company operates its business through two divisions: medical equipment division, which produces implants used in trauma, spine, hip joints and knee joints, and surgical instruments and disposable appliances, such as forceps, scissors, needle holders, hemostatic forceps, intestinal forceps, retractors, hooks, trocars, suction tubes, mouth gags, vein strippers, probes and other products, and healthcare division, which produces household therapy equipment, such as heating mats, water ionizers, air cleaners and others. The Company distributes its products within domestic market and to overseas markets.
SOLCO BIOMEDICAL CO., LTD. 
