AriBio Co., Ltd. announced that it expects to receive KRW 6.6 billion in funding from E-world co.Ltd.
February 16, 2020
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AriBio Co., Ltd. announced that it will issue 5th series registered non-guaranteed private convertible bonds for proceeds of KRW 600,000,000 and 6th series registered unguaranteed private convertible bonds for the proceeds of KRW 6,000,000,000 for the total gross proceeds of KRW 6,600,000,000 on February 17, 2020. The transaction will include participation from Yama Medical Products Pte, Ltd for KRW 300,000,000, individual investor Jaehyun Jung for KRW 300,000,000, new investors E-world co.Ltd for KRW 3,000,000,000 and Havruta E Advisory Group Co., Ltd. for KRW 3,000,000,000. The bonds will be issued at 2% fixed coupon rate, 4% yield to maturity rate, and will mature on March 2, 2023. The 5th series bonds can be 100% converted into 75,000 common shares for 0.669% stake in the company at a fixed conversion price of KRW 8,000 per share and the 6th series bonds can be 100% converted into 750,000 common shares for 6.669% stake in the company at a fixed conversion price of KRW 8,000. The conversion period is from July 2, 2020 to March 1, 2023. The transaction has been approved by the board of directors of the company. The subscription date and the payment date is March 2, 2020.
E-WORLD CO.,LTD. is a Korea-based company engaged in the operation of amusement facilities. The Company operates amusement facilities such as ghost houses, aladdins, flume rides, Andersen house, Vikings, tambourines, sky cabs, roller coasters, merry-go-round, eagle formations, bumper cars, boomerangs, balloons travels, flying elephant, mini Vikings, magic trains, jumping frogs, dancing airplanes, mini cars, camel backs, top spins, ice rinks and animal farms, as well as 83 tower. It also holds four seasons flower festivals and seasonal festivals such as summer night festival, autumn chrysanthemum festival, winter white festival and others. The Companyâs affiliated company is engaged in the operating of cruise ships, inland marine transportation, food service business and cooking retail business.
E-WORLD CO.,LTD. 
