MEDIPOST Co., Ltd. announced that it expects to receive KRW 40 billion in funding
March 07, 2019
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Medipost Co Ltd (KOSDAQ:A078160) announced a private placement of seventh unregistered/unsecured private convertible bonds for gross proceeds of KRW 40,000,000,000 on March 8, 2019. The transaction included participation from new investor, Seoul Investment Partners PEF No. 2 The bonds are issued at par and will mature on March 26, 2024. The bonds has 0% coupon rate and yield to maturity of 1% per annum. The bonds are 100% convertible into 465,202 common shares of the company at a fixed conversion price of KRW 85,984 per share. The conversion period is from March 26, 2020 to February 26, 2024. The transaction has been approved by the board of directors of the company. The subscription date is March 12, 2019. The payment date is March 26, 2019.
MEDIPOST Co., Ltd. is a Korea-based company engaged in the biotechnology business. The Company mainly operates cord blood banks. Its cord blood banks consist of public cord blood bank, which provides resource to anyone who may need to undergo hematopoietic stem cell transplantation (HSCT) as a result of blood-related diseases, such as leukemia or aplastic anemia, as well as family cord blood bank, which provides services for storing newbornâs cord blood exclusively for familyâs use. It also involves in the provision of stem cell drugs, which are used for recovery of knee articular cartilage and others, distribution of healthcare food and natural cosmetics, as well as provision of healthcare services.
MEDIPOST CO., LTD. 
