Green Plus to raise $7.54M as ARIBIO moves toward control
What's the deal? South Korea's Green Plus Co. said it expects to raise US$8.38M through a post-IPO convertible bond issue. ARIBIO Holdings is taking US$2.52M of the issue, with Green Plus Investment Purpose No. 1 subscribing to US$5.87M.
The terms: The Series 6 unsecured private placement bonds are fully convertible into 2,703,433 common shares at US$3.1 each. They carry a 2% coupon, interest to maturity of 8%, and mature on November 25, 2029. The transaction is expected to close on November 25, 2026.
Why now? Green Plus is under financial strain. It reported a US$10.9M net loss for 2025, with disclosed liabilities totaling US$49.8M.
What's the endgame? The convertible bond is one piece of a larger control transaction. Green Plus is also issuing US$8.38M in new shares, while ARIBIO buys existing shares and subscribes to new ones — a move filings indicate would make it the largest shareholder at 28.56%.
Where the money goes: Equity proceeds are earmarked largely for debt repayment, including US$4.19M of a perpetual convertible bond and US$4.19M in trade payables.
What could go wrong? The share purchases and fundraising remain subject to completion. Nothing is final until the deals close.
The signal: This is less a routine funding round than a prospective change of control paired with balance-sheet rescue. For a loss-making company carrying heavy liabilities, a new controlling shareholder with fresh capital may be the cleaner path than fighting the debt alone.
Read more: in.marketscreener.com
Image credit: Lil Shepherd
