Kyung Nam Pharm Co.,Ltd. announced that it expects to receive KRW 14.5 billion in funding from Kartoon Korea CO.,LTD. and other investors
June 03, 2020
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Kyung Nam Pharm Co., Ltd. (KOSDAQ:A053950) announced a private placement of 5th series Non-guaranteed private convertible bonds for gross proceeds of KRW 14,500,000,000 on June 4, 2020. The transaction will include participation from new investors Withwin Fund for KRW 6,000,000,000, Ventage Partners Co., Ltd. for KRW 4,000,000,000, Kartoon Korea CO.,LTD. for KRW 1,000,000,000 and from Withwin Holdings Co., Ltd. for KRW 3,500,000,000. The bonds carry a coupon of 4% and interest rate of 4%. The bonds will mature on June 10, 2023. The bonds will be fully convertible into 1,705,882 shares of the company at a fixed conversion price of KRW 8,500 per share between the periods of June 10, 2021 to May 09, 2023. The subscription date is June 8, 2020 and the expected payment date of the transaction is June 10, 2020.
KYUNG NAM PHARM.CO., LTD. is a Korea-based company mainly engaged in the manufacture and sale of pharmaceuticals. The Company's product portfolio consists of vitamin products, placenta products, health food products and general pharmaceuticals. The Company provides vitamin products under the brand name LEMONA. It supplies health food products such as lactobacillus products through convenient stores and marts. The placenta products include human placenta related injections and drinks. The general pharmaceuticals include athlete foot therapeutic agents, inflammatory drugs, cold remedies, multi-nutrients and others.
KYUNG NAM PHARM CO.,LTD. 
