【Health and Welfare News】CHA Vaccine Research Institute (CEO Yeom Jeong-seon), an affiliate of CHA Biotech, issues convertible bonds (CB) worth 10 billion won.
The Tea Vaccine Research Institute announced on the 15th that it has decided to issue the ‘4th bearer-bearing unsecured private placement convertible bond’ through a public announcement.
The issuance conditions are a coupon rate of 0% and a maturity rate of 3%, and refixing (conversion price adjustment) is not included. The payment date is November 17, 2023 and the maturity date is November 17, 2028.
The 10 billion won secured through the issuance of CB will be used for research and development operating expenses, such as ▲chronic hepatitis B treatment/preventive vaccine ▲herpes zoster vaccine ▲anticancer drug, etc., which are being developed according to the private loan acquisition agreement.
This CB has a low maturity interest rate of around 3% and no refixing conditions. Typically, convertible bonds issued in the KOSDAQ market include conditions for adjusting the conversion price according to stock price declines. The fact that the refixing condition was excluded can be interpreted as a high evaluation of the possibility of stock conversion gains due to the rise in stock prices.
Jeong-seon Yeom, CEO of CHA Vaccine Research Institute, said, “The hepatitis B vaccine was followed up for 48 weeks after administration was completed in October last year, and it was confirmed that antibodies were formed in 100% of the clinical subjects.” “We judged positively, and as a result, we were able to issue a CB under good conditions,” he said.
CEO Yeom then added, “The company does not lack liquidity, but this CB issuance will help with stable research and development and company operations.”
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2023-11-15 09:11:00
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