T&R Biofab Co., Ltd. announced that it expects to receive KRW 35 billion in funding from a group of investors
July 05, 2021
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T&R Biofab Co., Ltd. announced a private placement of series 1 bearer type private equity convertible bond for a gross proceeds of KRW 35,000,000,000 on July 6, 2021. The transaction will include participation from DAYLI Partners Co., Ltd. for KRW 18,000,000,000, returning investor Korea Investment Bio-Global Fund, a fund managed by Korea Investment Partners Co. Ltd. for KRW 5,000,000,000, HisStory Investment Management for KRW 3,800,000,000, H-KOSDAQ Venture Specialized Investment Criminal Equity Investment Trust No. 1 for KRW 700,000,000, Saltlux Ventures Co., Ltd. for KRW 500,000,000, BTC No.1 2021 Venture Investment Association for KRW 1,000,000,000, BTC Investment for KRW 1,000,000,000, Jaedam Inc. for KRW 1,000,000,000, Kiwoom-Aion Kosdaq Scale-Up Private Equity Fund, a fund managed by Kiwoom Private Equity, Inc. for KRW 2,000,000,000, returning investor eBest Investment Securities Co., Ltd., Investment Arm for KRW 2,000,000,000. The bonds have yield to maturity of 1%. The bonds will mature on August 06, 2026. The bonds will be 100% converted into common shares from August 06, 2022 to July 06, 2026. The payment date of the transaction is August 06, 2021. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.
T&R Biofab Co., Ltd. is a Korea-based company mainly engaged in the production and sale of bioresorbable scaffolds. The bioresorbable scaffolds are sold under the name of T&R mesh and T&R Dental Mesh. In addition, the Company is involved in the production and sale of three Dimensions (3D) biodegradable polymer printing system, bioinks, 3D organoid and 3D cell therapies, among others. The bioinks are sold under the name of deCelluid. The Company distributes its products within the domestic market and to overseas markets.