JNK Heaters Co., Ltd. announced that it expects to receive KRW 20 billion in funding from Mirae Asset Daewoo Co., Ltd., Investment Arm and other investors
April 25, 2018
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JNK Heaters Co., Ltd. (KOSDAQ:A126880) announced a private placement of 2nd unregistered and unsecured private convertible bonds for gross proceeds of KRW 20,000,000,000 on April 26, 2018. The transaction will include participation from Sun & Tree Venture Business Hedge Fund 1 and Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 3,000,000,000 each, GG Venture Business Hedge Fund 1, Susung KOSDAQ Venture Multi-asset Public Offering Shares Hedge Fund 2 and Focus S2 Lion Private Investment Trust 1 for KRW 2,000,000,000 each, Susung KOSDAQ Venture Multi-asset Public Offering Shares Hedge Fund and Susung KOSDAQ Venture Mezzanine Hedge Fund A,C,C-F,C-W,C-S Class for KRW 1,500,000,000 each. The bonds will be issued at par and does not carry any coupon rate. The bonds will mature on May 2, 2023. The bonds will be fully convertible into 3,816,793 shares of the company at a fixed conversion price of KRW 5,240 per share between the period of May 2, 2019 to April 2, 2023. The subscription and payment date is April 30, 2018 and May 2, 2018. The transaction has been approved by the board of directors of the company.
JNK Global Co Ltd, formerly JNK Heaters Co Ltd, is a Korea-based company that designs, manufactures, installs, and maintains industrial heating furnaces. The Company operates through two segments. The Industrial Heating Furnace Business segment is engaged in the design and manufacture of industrial heating furnaces. The Hydrogen Business segment is engaged in the development and supply of hydrogen extractors and hydrogen charging stations. The Company's industrial furnaces include vertical cylinder type, vertical box type, horizontal box type, cabin box type, double heating type, U-tube box type, inverted U tube box type, and others. The Company sells its products in domestic and international markets.
JNK Heaters Co., Ltd. announced that it expects to receive KRW 20 billion in funding from Mirae Asset Daewoo Co., Ltd., Investment Arm and other investors