UGint Co.Ltd. announced that it expects to receive KRW 20 billion in funding from Meritz Securities Co., Ltd. Investment Arm
August 10, 2016
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UGint Co.Ltd. (KOSDAQ:A195990) announced a private placement of first unregistered unsecured coupon unguaranteed private convertible bonds for gross proceeds of KRW 20,000,000,000 on August 11, 2016. The transaction will include participation from new investor Meritz Securities Co., Ltd. Investment Arm. The bonds will mature on August 18, 2019. The bonds will carry no coupon and yield to maturity of 4%. The bonds will be 100% convertible into common shares of the company at a fixed conversion price of KRW 8,702 per share from August 18, 2017 to July 18, 2019. The board of directors of the company approved the transaction. The subscription date is August 11, 2016 and payment date is August 18, 2016.
Abpro Bio Co., Ltd., formerly Ugint Co., Ltd., is a Korea-based company engaged in machine tools manufacturing. The Company produces and distributes small sized machining centers for notebooks, smart phones, tablet personal computers, mobile phones, base plates, light emitting diode (LED) and light crystal display (LCD) television panels, automobile parts, motorbikes parts and aircraft parts. The Company also engages in original equipment manufacturing business (OEM). The Company operates its business within domestic markets and foreign markets such as China and Europe countries.
ABPRO BIO CO., LTD. 
