Mediforum Pharmaceutical Incorporation announced that it expects to receive KRW 20 billion in funding from Ibest Investment Company Ltd., Hanyang Securities Co. Ltd., Investment Arm, EBEST Investment & Securities Co., Ltd.
April 26, 2020
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Mediforum Pharmaceutical Incorporation (KOSDAQ:A047920) announced a private placement of series 11 unregistered coupon non guaranteed private convertible bond for the gross proceeds of KRW 20,000,000,000 on April 27, 2020. The transaction will include participation from Ibest Investment Company Ltd. and Hanyang Securities Co. Ltd., Investment Arm for KRW 10,000,000,000 each.
The bonds carry coupon rate of 1% and surface interest rate of 1% and will mature on June 29, 2023. The bonds are 100% convertible into 3,556,188 registered common shares of the company at conversion price of KRW 5,624 per share. The conversion period will start on June 29, 2021 and end on May 29, 2023.
The payment date is June 29, 2020. The transaction was approved by board of directors of the company.
LS Securities Co Ltd, formerly EBest Investment & Securities Co Ltd, is a Korea-based company principally engaged in the financial investment and securities services provision business. The Company mainly provides securities investment brokerage services such as equity securities, debt securities, investment securities, investment contract securities, derivatives-linked securities and foreign currency securities, consignment trading services such as real-time ordering, quoting and securities information inquiring for stock futures, options and funds, as well as own trading services. The Company also provides underwriting, arranging and lending services.
Mediforum Pharmaceutical Incorporation announced that it expects to receive KRW 20 billion in funding from Ibest Investment Company Ltd., Hanyang Securities Co. Ltd., Investment Arm, EBEST Investment & Securities Co., Ltd.