RedcapTour Co., Ltd. announced that it expects to receive KRW 11.76825 billion in funding from Hi Investment & Securities Co., Ltd.
November 24, 2020
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RedcapTour Co., Ltd. (KOSDAQ:A038390) announced a private placement of series 8 non-guaranteed private exchange bonds with bearer interest for gross proceeds of KRW 11,768,250,000 on November 25, 2020. The transaction will include participation from Hi Investment & Securities Co., Ltd. The bonds will have no coupon rate and will mature on November 27, 2023. The bonds are 100% convertible into 497,600 common share at a convertible price of KRW 23,650 per share. The bonds are 100% convertible into 497,600 common share at a convertible price of KRW 23,650 per share. The bonds will start convertible from December 27, 2020 and will end on October 27, 2023. The transaction is expected to close on November 27, 2020. The securities will have a lock up period of one year.
RedcapTour Co., Ltd. is a Korea-based company mainly engaged in the travel and car rental businesses. The Company operates its business through two divisions: car rental business division and travel business division. Its car rental business division provides short-term and long-term vehicle rental and sale of used vehicles services. Its travel business division is engaged in the provision of travel arrangement services, such as honeymoon, overseas travels, backpacking travels, luxury cruises travels, free individual travels and business travels. It also markets airline tickets.