EDGC, 1.7 Trillion Won Floods BW Public Offering, 'Successful Hit'

A large amount of funds poured into the general public subscription for the bonds with warrants (BW) of EDGC (Eone Diagnomics Genome Center), a precision medicine company specializing in genome analysis.

According to the final tally of EDGC's general subscription on the 10th, approximately KRW 1.7645 trillion was applied for the KRW 20 billion offering, recording a competition rate of 88.23 to 1.

The exercise price of the bonds with warrants is KRW 1,517. The annual interest rate of 3.00% refers to the coupon rate. The yield to put (YTP) and yield to maturity (YTM) are both 6.00% per annum. The warrant exercise period is from June 11, 2023, which is one month after the bond issuance date, until April 11, 2026, one month before maturity.

An EDGC official stated, "We analyze that the improved overseas performance and expectations for new businesses such as new drug development and AI-based distributed genome social network services led to the success of the bonds with warrants subscription."

He added, "Through public offering fundraising, we will continue sustainable management innovation by reducing debt through loan repayment, improving sales profit margins, and cutting selling and administrative expenses."

EDGC, listed on the KOSDAQ market in 2018, is a leading domestic bio healthcare company. Using cutting-edge genomics technology, it is dedicated to prenatal and newborn screening, cancer screening, and diagnostics and therapeutic development in neurological and personal genetics fields.

This content was produced with the assistance of AI translation services.