SunBio,Inc. announced that it has received KRW 2 billion in funding
May 12, 2019
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SunBio,Inc. (XKON:A067370) announced a private placement of 3rd series unregistered zero coupon private convertible bond for proceeds of KRW 2,000,000,000 on May 13, 2019. The transaction included participation from Psorex Co., Ltd.. The bond will mature on May 13, 2022 with yield of maturity of 4%. The bonds are fully convertible into 90,090 common shares for 1.16% stake of the company with a conversion price of KRW 22,200 per share. The conversion period starts on May 14, 2020 and ends of May 4, 2022. The transaction has been approved by the board of directors of the company. The bonds have a hold period of one year.
SunBio,Inc. is a Korea-based company mainly engaged in the production and sale of biopharmaceuticals. The Company operates its business through three segments. The Polyethylene Glycol (PEG) Derivative Product business segment is involved in the manufacturing and sale of PEG derivative products. The PEG derivatives are intermediate materials used in dermal filler, drug delivery systems, hydrogel, and nanotechnology. The Biosimilar Business segment is involved in the manufacturing and sale of royalty and technology transfer products. The main products are neutropenia treatment products, and hepatitis C treatment products. The New Drug Development Business segment is involved in the development of oxygen carriers, artificial blood, stroke aid agents, cartilage synovial fillers, dry mouth treatment drugs, and long-term preservatives.
SUNBIO,INC. 
