UGint Co., Ltd. announced that it expects to receive KRW 3 billion in funding
August 08, 2018
Share
UGint Co., Ltd. (KOSDAQ:A195990) announced a private placement of 10th series unregistered coupon unsecured unguaranteed private convertible bonds for gross proceeds of KRW 3,000,000,000 on August 9, 2018. The transaction will include participation from Ikhyun Kim for KRW 500,000,000, Mikyung Kim for KRW 500,000,000, Kyungduk Kim for KRW 500,000,000 and other investors. The bonds are issued at 2% coupon rate, 3% yield to maturity and will mature on August 13, 2021. The bonds can be 100% converted into 3,125,000 common shares of the company at a fixed conversion price of KRW 960 per share. The conversion period start date is August 13, 2019 and end date is July 13, 2021. The subscription date of the transaction is August 9, 2018. The expected date of closing of the transaction is August 13, 2018. The transaction has been approved by the company’s board of directors.
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.