Ace Technologies Corp. announced that it expects to receive KRW 50 billion in funding from Renaissance Asset Management, GVA Asset Management Co., Ltd., Hanyang Securities Co., Ltd., Investment Arm, Taurus Investment Management Co., NH Investment & Securities Co., Ltd., Investment Arm, BNK Securities Co., Ltd., Investment Arm, and other investors
July 25, 2021
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Ace Technologies Corp. announced a private placement of 44 series unregistered coupon nonguaranteed private convertible bond for proceeds of KRW 25,000,000,000 and 45 series unregistered coupon nonguaranteed private nondetachable bond with warrants for proceeds of KRW 25,000,000,000 and aggregate gross proceeds of KRW 50,000,000,000 on July 26, 2021. The transaction for series 44 bonds will include participation from Renaissance KOSDAQ Venture OK Hedge Fund, a fund managed by Renaissance Asset Management for KRW 3,000,000,000, NH Investment & Securities Co., Ltd., Investment Arm for KRW 1,000,000,000, Tiger 5-03 Hedge Fund, Tiger 5-13 Hedge Fund, Tiger CORE 3 Hedge Fund, Tiger 5 Combo Hedge Fund 1, Tiger 5-11 Hedge Fund, Tiger 5-21 Hedge Fund, Tiger 5-31 Hedge Fund, Tiger STAR 1 Hedge Fund, Tiger GLORY 1 Hedge Fund, Tiger 5-41 Hedge Fund, Tiger 5-51 Hedge Fund, Tiger Curves 1 Hedge Fund, Tiger CONSTANT 1 Hedge Fund, Tiger 5-04 Hedge Fund, Tiger WISE ONE 4 Hedge Fund, Tiger 5-14 Hedge Fund, Tiger CLASSIC 4 Hedge Fund, Tiger 5-02 Hedge Fund, Tiger 5-12 Hedge Fund, Tiger Gangnam 5-22 Hedge Fund, Tiger HNW 5-32 Hedge Fund, Tiger HNW 5- 42 Hedge Fund, Tiger Friend 2 Hedge Fund, Tiger Family 2 Hedge Fund, Tiger CORPORATE 2 Hedge Fund, Tiger TRUE 2 Hedge Fund, Tiger GEAR UP 2 Hedge Fund, Tiger GEAR UP 12 Hedge Fund, Tiger BLUE 2 Hedge Fund, Tiger NEW 2 Hedge Fund, funds managed by Tiger Asset Management Investment Discretionary Co., Ltd. for KRW 2,000,000,000, GVA Fortress-A Hedge Fund, GVA Saber-V Hedge Fund, GB A Saber-G Hedge Fund, funds managed by GVA Asset Management Co., Ltd. for KRW 4,000,000,000, Songhyeon e-New Industry Fund for KRW 2,000,000,000, IBK Financial Group Synergy Ivy Business Reorganization New Technology Fund KRW 2,000,000,000, IBKC-Nice New Deal Supervisor New Technology Business Fund for KRW 3,000,000,000, new tech association for KRW 2,000,000,000, Hanyang Securities Co., Ltd., Investment Arm for KRW 2,000,000,000, Eeveo Research Co., Ltd. for KRW 500,000,000 and Taurus Investment Management Co. for KRW 1,500,000,000, and for series 45 bonds will include participation from NV Mezzanine Plus Private Equity Joint Venture Company. Both series 44 and 45 bonds carries a coupon rate of 0% per annum, 0% of interest rate to maturity, series 44 bonds mature on July 28, 2024, and series 45 bonds mature on August 9, 2024. The series 44 bonds are 100% convertible into 1,281,123 common shares at a fixed conversion price of KRW 19,514 per share and series 45 bonds 100% convertible into 1,281,131 common shares at a fixed conversion price of KRW 19,514 per share. The conversion period series 44 bonds is from July 28, 2022 to June 28, 2024 and series 45 bonds start on August 9, 2022 and end on July 9, 2024. The transaction for series 44 bonds is expected to close on July 28, 2021 and series 45 bonds is expected to close on August 9, 2021. All securities issued pursuant to the transaction are subject to the restriction period of one year. The transaction has been approved by the board of directors of the company.
Ace Technologies Corp. is a Korea-based company mainly engaged in the manufacture of wireless communication equipment. The Company manufactures radio frequency (RF) products, including RF filters, active antenna systems and system components; antennas, which are used for base transceiver stations (BTSs), repeaters, mobile devices and wireless fidelity (WiFi) equipment, and repeaters, including indoor repeaters, outdoor repeaters, RF small repeaters, RF repeaters and others. In addition, the Company provides remote radio heads (RRHs), and automotive antennas and radars. The Company distributes its products within domestic market and to overseas markets.
ACE TECHNOLOGIES CORP. 
