YG-1 Co., Ltd. announced that it expects to receive KRW 19.999997225 billion in funding from Y Value-Up Limited
December 06, 2020
Share
YG-1 Co., Ltd. (KOSDAQ:A019210) announced a private placement of 3,619,909 preferred shares at a price of KRW 5,525 per share for gross proceeds of KRW 19,999,997,225 on December 7, 2020. The company will issue the securities on third party allotment basis. The transaction will include participation from new investor Y Value Up Co., Ltd. The preferred shares will be issued at 10% discount and are subject to a lock up period of one year. The preferred shares are convertible into common shares from December 18, 2021 to November 18, 2027. The transaction is expected to closed on December 18, 2020. The transaction was approved by the board of directors of the company.
YG-1 CO.,LTD is a Korea-based company engaged in the manufacture and distribution of cutting tools. The Companyâs products mainly consist of end mills, including high speed steel (HSS) types, tank-power types, normal carbide types, jet-power types and others; taps, including spiral flute taps, gun point taps, straight flute taps, hand taps, roll taps, pipe tips and nut taps, and drills, including carbide drills, HSS drills, carbide spade drills and spade drills. It also provides rotary burrs, cutters and accessories. The Company distributes its products within domestic market and to overseas markets.
YG-1 CO., LTD. 
