Solco Biomedical Co., Ltd. announced that it has received KRW 2.1 billion in funding
April 28, 2021
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Solco Biomedical Co. Ltd. (KOSDAQ:A043100) announced a private placement of series 12 unregistered coupon non-guaranteed convertible bonds for gross proceeds of KRW 2,100,000,000 on April 29, 2021. The transaction include participation from individual investors Sung Min Kim, Hoon Kim, Seon-ho Lee, Seon-ho Lee, Changju Lee, for proceeds of KRW 300,000,000 each, Yeokyung Ok, Choi Gun for KRW 200,000,000 each, Fixed heat, Kim Jong-seop, Seonghwa Heo for proceeds of KRW 100,000,000 each, Kookhyun Kim, and Kim Yang-taek for proceeds of KRW 50,000,000 each. The bonds bear an interest rate of 3%, yield to maturity of 5%, are issued at par and will mature on April 29, 2024. The bonds are fully convertible into 4,200,000 common shares representing 6.91% stake at a conversion price of KRW 500 per share from April 29, 2022 to March 29, 2024. The bonds are subject to a hold period of one year. 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. 
