Yuyu Pharma, Inc. announced that it expects to receive KRW 10 billion in funding
April 21, 2020
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Yuyu Pharma, Inc. (KOSE:A000220) announced a private placement of 29th domestic bearer ceremony non-guaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on April 22, 2020. The bonds will be issued at par. The transaction will include participation from Moorim 2020-1 New Technology Fund for KRW 2,500,000,000, Kiwoom-Linos Scale-up New Technology Business Fund for KRW 2,000,000,000, Rhinos Meritz New Technology Business Fund for KRW 1,800,000,000, Kiwoom-Rhinos New Technology Business Fund for KRW 1,500,000,000, Kiwoom Capital-Rhinos New Technology Business Fund for KRW 700,000,000, Evest-Rynos New Technology Association No. 10 for KRW 500,000,000, Rhinos-Hanyang New Technology Business Fund for KRW 500,000,000 and Rhinos-Hanyang No. 2 New Technology Business Fund for KRW 500,000,000. The bonds are zero-coupon and will mature on April 24, 2025. The bonds are fully convertible into 854,700 common shares of the company representing 11.83% stake at a fixed conversion price of KRW 11,700 per share. The conversion period of the bonds will be from April 24, 2021 to March 24, 2025. The subscription and payment date is April 24, 2020. The transaction was approved by the board of directors of the company.
Yuyu Pharma, Inc. is a Korea-based company engaged in the provision of pharmaceutical products. The Company produces prescription drugs such as circulatory improvement agents, antiplatelet agents, osteoporosis drugs, antiulcerants, bone metabolism ameliorants, gout preparative drugs, antidepressants, anti-diabetic agents, antitubercular agents, antihypertensive agents, angina pectoris drugs, antibiotics, hemorrhoidal and varicose preparations, topical corticosteroids and others, as well as non-prescription drugs such as vitamins and digestive agents. It also provides healthcare supplements and quasi drugs. In addition, the Company is involved in the provision of medicines for geriatric diseases such as osteoporosis, dementia, stroke and others.
YUYU PHARMA, INC. 