Wellbiotec Co., Ltd. announced that it has received KRW 15 billion in funding
February 25, 2021
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Wellbiotec Co., Ltd. (KOSE:A010600) announced a private placement of 27th series unregistered non-guaranteed private equity convertible bonds for gross proceeds of KRW 15,000,000,000 on February 26, 2021. The transaction included participation from Choi Seung-Ho for KRW 15,000,000,000. The bond is issued at maturity interest rate 2% and surface interest rate 1% and will mature on February 26, 2024. The bonds will be 100% convertible into 5,122,950 common shares of the company at a fixed conversion price of KRW 2,928 per share from February 26, 2022 to January 26, 2024. The board of directors of the company approved the transaction. The subscription and payment date are February 26, 2021.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. 
