Woori Technology, Inc. announced that it expects to receive KRW 8 billion in funding from K S C Co., Ltd and other investors
April 15, 2018
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Woori Technology, Inc. (KOSDAQ:A032820) announced a private placement of sixth unregistered unsecured coupon private convertible bonds for gross proceeds of KRW 8,000,000,000 on April 16, 2018. The bonds are convertible into common shares of the company at a fixed conversion price of KRW 782 per share. The bonds will mature on May 17, 2021. The yield to maturity and annual fixed coupon rate for the bonds is 5% and 3% respectively and the bonds have lump-sum redemption of principal on maturity date. The conversion period of bonds is from May 17, 2019 to May 17, 2021. The bonds will be issued at par value. The transaction will include participation from K S C Co., Ltd for KRW 2,000,000,000, Honest Fund 4 for KRW 4,000,000,000, UDID Co., Ltd. for KRW 1,000,000,000, Dae-Young Jeon for KRW 370,000,000, Jeong-Woo Park for KRW 360,000,000, Seungkwon Jeong for KRW 250,000,000, and Gab-Seon Rho for KRW 20,000,000. The board of directors of the company approved the transaction. The transaction is expected to close on May 17, 2018. The company reported total assets of KRW 100,000,000 in 2017.
Woori Technology Inc. is a Korea-based company engaged in the design and manufacture of nuclear instrumentation and control systems. The Company operates in two business divisions: system division, which designs and produces nuclear control systems, such as plant monitoring systems (PMSs), plant annunciator systems (PASs), seismic monitoring systems (SMSs), loose part monitoring systems (LPMSs) and distributed control systems (DCSs), used in nuclear power plants, as well as new business division, which involves in the trading of multi personal computer (PC) system and mineral resources such as anthracite coals, steam coals and others, as well as provision of childâs crying reason analysis systems. It also involves in the leasing of non-residential buildings.
WOORI TECHNOLOGY, INC. 
