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Aprogen Medicines to Raise 2 Billion Won Through Convertible Bond Issue

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Aprogen Medicines (KRX:007460) said its board approved the issuance of privately placed unsecured convertible bonds worth 2 billion won with a 2% coupon and a 4% yield to maturity, according to a regulatory filing on Monday.

The South Korean biopharmaceutical company said that the bonds will mature on July 23, 2031, and are convertible into its common shares at a conversion price of 2,437 won per share, exercisable between July 24, 2027, and June 23, 2031, and also give bondholders the right for early redemption.

The proceeds will be used to fund the acquisition of securities.

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