New Pride Corporation announced that it has received KRW 24.04661124 billion in funding from CH Apparel, Inc., CSA Apparel Company, LP, Vision Canaan Corporation
March 04, 2020
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New Pride Corporation (KOSDAQ:A900100) announced a private placement of round 26 non-guaranteed non-guaranteed private equity convertible bonds for gross proceeds of KRW 24,046,611,240 on March 5, 2020. The transaction included participation from new investors, CH Apparel, Inc. for KRW 7,668,316,370, CSA Apparel Company, LP for 7,954,536,710, Vision Canaan Corporation for 8,423,758,160. The bonds are zero coupon bonds and will mature on March 05, 2023. The bonds are 100% convertible into 30,133,597 common shares at a conversion price of KRW 798 per share. The conversion period of the bonds starts of March 05, 2021 and ends on February 05, 2023. The transaction has been approved by the board of directors of the company. The subscription date and payment date of the transaction is on the same date.
Ameridge Corporation is focused on fashion, real estate, and wellness business. The Company's fashion business is engaged in the management of women's clothing stores in the United States. It has PAPAYA apparel stores in nine states of the United States of America. Papaya business primarily focuses on the junior and petite apparel markets. It offers accessories such as jewelry, belts, hats, shoes, and more. papaya operates local fashion stores nationwide in Arizona, California, Florida, Georgia, Hawaii, Louisiana, Maryland, Missouri, North Carolina, New Jersey, New York, Texas, Virginia, and Washington. The Company's wellness business is engaged in cannabis cultivation. It operates a wellness retail business, which is engaged in cultivation business, and wellness delivery, which is engaged in online/mobile sales. The Company is also engaged in self-owned real estate management. In addition, the Company has approximately 75 shopping malls in China.
New Pride Corporation announced that it has received KRW 24.04661124 billion in funding from CH Apparel, Inc., CSA Apparel Company, LP, Vision Canaan Corporation