BDI Completes Financing for Allison Acquisition... "Acquisition to be Finalized by the 15th"

[Asia Economy Reporter Hyunseok Yoo] Vidia announced on the 6th that it has secured all the acquisition funds for Allison Pharmaceuticals (Allison), a U.S. new drug development company, through 12.1 billion KRW worth of bonds with warrants (BW) completed on the 3rd and internal company funds. The acquisition of Allison is expected to be finalized by the 15th.

Recently, Vidia succeeded in raising 12.1 billion KRW from institutional investors such as Suseong Asset Management and DB Financial Investment through the BW. In addition, a 14 billion KRW convertible bond (CB) is currently being coordinated with institutional investors regarding the investment schedule. Furthermore, through a 10 billion KRW third-party allotment capital increase, An Seungman, the largest shareholder of Vidia and currently acting CEO, will participate in the investment. Once An completes the payment by the 30th, his shareholding ratio, including related parties, will increase to 26.81%, securing stable management rights.

A Vidia representative stated, “Even if the CB payment schedule is delayed, the 12.1 billion KRW secured through the BW payment on the 3rd and internal funds have already covered all the necessary funds for the Allison acquisition,” adding, “We will proceed with the Allison acquisition as planned by the 15th without any setbacks.”

He continued, “We expect to quickly cover operating funds through the CB, whose payment schedule is currently being coordinated, and the third-party allotment capital increase involving An Seungman,” adding, “This fundraising related to the Allison acquisition reflects the strong commitment of the largest shareholder, An Seungman, to the bio business.”

Meanwhile, Vidia is continuously expanding its portfolio from the existing coal power business to eco-friendly and renewable energy businesses (▲wind power ▲solar power ▲fuel cells). The company plans to aggressively invest in various bio companies, including Allison, which is being acquired this time, to steadily expand its bio business.

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