L&C BIO(290650) said on the 31st that it will build a production facility in Dongtan, Gyeonggi Province. The goal is to supply products made from human tissue to the United States and Europe.
The company will build a 1,300-pyeong Smart Factory in Dongtan. It plans to produce medical devices based on human tissue by establishing a good manufacturing practice (GMP) quality control system. Research and development and quality control will also be possible.
The company will conduct a rights offering to raise funds. The rights offering will be carried out by allocating rights to existing shareholders and publicly offering any forfeited shares. It will issue 3.7 million common shares, with the expected issue price for new shares at 38,000 won. The lead manager is Eugene Investment & Securities, with the record date for new share allocation on Sept. 4 and the scheduled listing date for the new shares on Nov. 3.
At the same time, it will carry out a bonus issue allocating one new common share per one existing share. It said it will exercise a call option to acquire 15 billion won in convertible bonds and immediately cancel them. An L&C BIO official said, "We plan to protect shareholder value."