Solco Biomedical Co., Ltd. announced that it has received KRW 3 billion in funding from CAPE Investment & Securities Co.,Ltd., Investment Arm and another investor
April 27, 2021
Share
Solco Biomedical Co. Ltd. (KOSDAQ:A043100) announced a private placement of series 11 unregistered coupon non-guaranteed convertible bonds for gross proceeds of KRW 3,000,000,000 on April 28, 2021. The transaction included participation from Keistone Holdings Co., Ltd. for KRW 1,000,000,000 and CAPE Investment & Securities Co.,Ltd., Investment Arm for KRW 2,000,000,000. The bonds bear an interest rate of 3%, yield to maturity of 5%, are issued at par and will mature on April 28, 2024. The bonds are fully convertible into 6,000,000 common shares representing 9.88% stake at a conversion price of KRW 500 per share from April 28, 2022 to March 28, 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. announced that it has received KRW 3 billion in funding from CAPE Investment & Securities Co.,Ltd., Investment Arm and another investor
SOLCO BIOMEDICAL CO., LTD. 
