Philosys Healthcare Co., Ltd announced that it expects to receive KRW 3 billion in funding
April 22, 2020
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Philosys Healthcare Co., Ltd (KOSDAQ:A057880) announced a private placement of series 13 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 3,000,000,000 on April 23, 2020. The transaction will include participation from LMK Insight Co., Ltd. for KRW 2,000,000,000 and GOC Partners Co., Ltd. for KRW 1,000,000,000. The bonds will mature on June 5, 2023 and have a coupon rate of 3.5% and interest rate of 3.5%. The bonds are convertible into 1,955,671 shares at a conversion price of KRW 1,534 per share from June 5, 2021 to May 5, 2023. The transaction is expected to close on June 5, 2020. The transaction has been approved by the board of directors.
Green Pine Tree Co Ltd, formerly PHC Co Ltd, is a Korea-based company principally engaged in the wholesale and retail of medical supplies. The Company is principally engaged in the wholesale and retail of medical supplies such as corona virus disease 2019 (COVID-19) antigen diagnostic kits, rapid antigen diagnostic kits, specimen collection kits. The Company is engaged in the miscellaneous goods and clothing distribution business. In addition, the Company is engaged in the provision of senior care services such as day care center services and in-home care services. The Company is also engaged in the rental of real estate.