AeroSpace Technology of Korea Inc. announced that it expects to receive KRW 175.325 billion in funding from a group of investors
Series 8 bonds - The transaction will include participation from new investor U&I Creditors Co., Ltd. The bonds are 100% convertible into 100,000,000 shares at a fixed conversion price of KRW 500 from September 13, 2024 to February 12, 2054. The bonds bear 1.5% interest rate and 1.5% maturity rate and matures on March 12, 2054. The transaction has been approved by the shareholders of the company and is expected to close on March 12, 2024. The securities are restricted to a hold period.
Series 7 bonds - The transaction will include participation from returning investor Alpha Aero LLC. The bonds are 100% convertible into 105,000,000 common shares at a fixed conversion price of KRW 500 from September 13, 2024 to February 12, 2054. The bonds bear 3% interest rate and 3% maturity rate and matures on March 12, 2054. The transaction has been approved by the shareholders of the company and is expected to close on March 12, 2024. The securities are restricted to a hold period.