Incon Co., Ltd. announced that it expects to receive KRW 5 billion in funding from High Value Life Science No. 1 Investment Association
June 11, 2020
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Incon Co., Ltd. (KOSDAQ:A083640) announced a private placement of round 9 series unguaranteed private equity convertible bonds for gross proceeds of KRW 5,000,000,000 on June 12, 2020. The bonds will be issued at par value. The transaction will involve participation from High Value Life Science No. 1 Investment Association. The bonds will carry a coupon rate of 2.9%. The bonds will be fully convertible into 4,761,904 shares of the company at a fixed conversion price of KRW 1,050 per share amounting to 5.24% stake in the company between June 26, 2021 and May 26, 2023, and will mature on June 26, 2023. The bonds will be subject to prohibition of conversion for 1 year and can be redeemed before maturity at 100% of the exemption amount. The subscription and payment date is June 16, 2020 and June 26, 2020 respectively. The transaction has been approved by the board of directors of the company.
INCON Co., Ltd., formerly Win4Net Co., Ltd. is a Korea-based company specialized in the development and manufacture of digital video recorders (DVRs) used for security area. The Companyâs products consist of standalone DVRs, personal computer (PC)-based DVRs, analog cameras, color box cameras, indoor dome cameras, outdoor micro dome cameras, outdoor dome cameras and others. Its Internet protocol (IP) products include network video recorders (NVRs), video servers, hybrid DVRs, IP cameras and related software. It also provides storages. It distributes its products under the brand names of Netsafe, Trium, Poswatch, Clevo, Netsafe, Wintera and others. The Company distributes its products within domestic market and to overseas markets.