Samji Electronics Co., Ltd. announced that it expects to receive KRW 20.000155 billion in funding
May 01, 2019
Share
Samji Electronics Co., Ltd. (KOSDAQ:A037460) announced a private placement of round 2 unregistered coupon unguaranteed private placement exchangeable bonds for KRW 7,300,155,000 and round 3 unregistered coupon unguaranteed exchangeable bonds for KRW 12,700,000,000 on May 2, 2019. The company will raise aggregate proceeds of KRW 20,000,155,000 in the transaction. The round 2 bonds carry an interest rate of 1%, yield to maturity of 5%, maturity date of bonds is May 13, 2024, the bonds are 100% convertible into 486,677 common shares at a conversion price of KRW 15,000 from May 13, 2020 to May 6, 2024, and the payment date is May 13, 2019. The turn 3 bonds carry an surface rate of 1%, maturity interest rate of 5%, maturity date of bonds is May 13, 2024, the bonds are 100% convertible into 5,080,000 common shares at a conversion price of KRW 2,500 from May 13, 2020 to May 6, 2024, and the payment date is May 13, 2019. The board of directors of the company has approved the transaction. The transaction will include participation from new investor Highland 2019 PEF.
samji electronics Co., Ltd is a Korea-based company mainly engaged in the manufacture of communication equipment. The Company mainly operates in two business divisions: communication division and other business division. Its communication division engages in the manufacture and distribution of wireless communication equipment, network equipment and lottery terminals. Its other business division engages in the real estate rental and leasing business. It also provides equipment maintenance services and installation services.