GemVax&KAEL Co.,Ltd announced that it expects to receive KRW 35 billion in funding
August 31, 2018
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GemVax&KAEL Co.,Ltd (KOSDAQ:A082270) announced a private placement of 12th round unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 30,000,000,000 and 13th round unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000, for aggregate gross proceeds of KRW 35,000,000,000 on August 1, 2018. The transaction includes participation from Wonseok Yuk for KRW 5,000,000,000, Lime Fund 1 for KRW 1,000,000,000, Lime Fund 2 for KRW 4,500,000,000, Lime Fund 3 for KRW 4,000,000,000, Lime Fund 4 for KRW 12,000,000,000, and Lime Fund 5 for KRW 8,500,000,000. The bonds will be issued at par. The bonds do not carry any coupon and have yield to maturity of 2%. The bonds will mature on August 10, 2023. The bonds are fully convertible into 2,590,864 shares of the company at a fixed conversion price of KRW 13,509 per share between the period of August 10, 2019 to July 10, 2023. The subscription and payments date is August 1, 2018 and August 10, 2018 respectively. The transaction has been approved by the board of directors of the company.
GemVax & KAEL Co.,Ltd is a Korea-based company mainly engaged in the manufacture of pollution control equipment used in semiconductor manufacturing processes. The Company and its subsidiaries are engaged in the three categories of businesses: pollution control business, which manufactures chemical air (CA) filters, gas scrubbers, resins, coating resins and other environmental equipments and systems; anticancer and anti-inflammation business, which engages in development of cancer vaccines for infectious diseases, such as acquired immune deficiency syndrome (AIDS) and anti-inflammations, and IT business which mainly produces liquid crystal display (LCD) modules. The Company distributes its products within domestic market and to overseas markets.
GEMVAX&KAEL CO.,LTD. 
