Immuno-Biological Laboratories Co., Ltd. announced that it expects to receive ¥1.39 billion in funding from Whiz Partners Inc.
December 30, 2016
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Immuno-Biological Laboratories Co., Ltd. (JASDAQ:4570) announced a private placement of 40, 2nd series unsecured convertible corporate bonds at a price of ¥34,713,000 per bond for ¥1,388,520,000 and 116 units of 3rd series warrants units at a price of ¥38,000 per unit for ¥4,408,000, with new investor, Whiz Healthcare Japan 2.0 Investment Limited Partnership, a fund managed by Whiz Partners Inc. for aggregate gross proceeds of ¥1,392,928,000 on December 1, 2016. The warrants will be exercisable from December 20, 2016 to December 19, 2019. Each warrants unit will consist of 10,000 share warrants. The bonds will be issued at par and will not bear any interest. The bonds will be convertible into 1,740,000 common shares at ¥798 per share. The bonds will mature on December 20, 2019. The transaction will take place by third party allotment. The investor will hold 28.47% stake in the company upon conversion of bonds and exercise of warrants. The application period date and settlement date is December 20, 2016. The company will bear various issue costs amounting to ¥18,500,000, including, legal expenses of ¥5,000,000, warrant value calculation fees of ¥5,000,000, fees of the third party inspection committee related to antisocial forces of ¥3,000,000, registration tax of ¥4,000,000, and other clerical expenses of ¥1,500,000.
Immuno-Biological Laboratories Co., Ltd. is a Japan-based company engaged in the research, development, manufacture and sales of pharmaceutical products and quasi-drugs. The Company operates in four business segments. The Diagnostic and Reagent segment is engaged in the manufacture, purchase and sales of research-related reagents, medicine, as well as vitro diagnostics. The Genetically Modified Silkworm segment is engaged in the sales of transgenic silkworm cocoons related products and research development of pharmaceutical raw materials. The Testing segment is engaged in the provision of support for prevention and diagnosis in addition to drug discovery and research support in the field of lifestyle-related diseases using lipid metabolism analysis technology. The Cosmetics segment is engaged in the sales of cosmetics and other products.