Ugint CO., Ltd. announced that it expects to receive KRW 15 billion in funding
March 19, 2019
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UGint Co., Ltd. (KOSDAQ:A195990) announced a private placement of 12th series unregistered coupon unguaranteed private convertible bond of KRW 7,500,000,000 and 13th series unregistered coupon unguaranteed private convertible bond of KRW 7,500,000,000 for gross proceeds KRW 15,000,000,000 on March 20, 2019. The transaction will include participation from new investor Floris Fund 3. The bonds carry coupon rate of 2% and yield to maturity of 4%. The 12th series bonds and 13th series bonds have maturity date of April 30, 2022 and May 29, 2022 respectively. The bonds can be 100% converted into 10,714,285 common shares of the company at a fixed conversion price of KRW 700 per share. The conversion period start date is April 30, 2020 and end date is March 30, 2022 for 12th series bonds. The conversion period start date is May 29, 2020 and end date is April 29, 2022 for 13th series bonds. The subscription date is March 20, 2019. The payment date for 12th series bond is April 30, 2019. The payment date for 13th series bond is May 29, 2019. 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.