Wellbiotec Co., Ltd. announced that it expects to receive KRW 11 billion in funding from KB Securities Co., Ltd.
December 09, 2020
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Wellbiotec Co., Ltd. (KOSE:A010600) announced a private placement of 26th series non-guaranteed private equity convertible bonds for gross proceeds of KRW 11,000,000,000 on December 10, 2020.The transaction will include participation from KB Securities Co., Ltd for all the bonds in the transaction. The bond is issued at maturity interest rate 3% and surface interest rate 2% and will mature on December 14, 2026. The bonds will be 100% convertible into 4,710,920 common shares of the company at a fixed conversion price of KRW 2,335 per share from December 14, 2023 to November 14, 2026. The board of directors of the company approved the transaction. The subscription and payment date is December 14, 2020.The bonds issued in the transaction will have a hold period of one year from the date of issuance.
WELLBIOTEC CO.,LTD, formerly YBROAD CO., LTD., is a Korea-based company engaged in the leather business. The Companyâs products portfolio consists of nappa, naked, soft and other types of leathers used for handbags; water proof, gore-tex, nubuck, white and washable leathers used for shoes; chrome and non-chrome leathers used for car seats; chrome and non-chrome, and grain leathers used for steering wheels, and others, including baseball glove leathers and belt leathers. It also involves in the integrated transportation business, as well as wholesale and retail of electrical equipment business through its subsidiaries. The Company supplies its leather products to Coach, Tumi, Juicy, Vicotornox, Brighton, Timberland, Foot Joy, Stride Rite, Honda, Acura, Suzuki, Toyota and others.
WELLBIOTEC CO., LTD. 
