ASIA SEED Co.,Ltd. announced that it expects to receive KRW 5.999999655 billion in funding from KB Securities Co., Ltd., Investment Arm, Ace Susung New Technology Fund 15, SUSUNG ASSET MANAGEMENT Co., Ltd.
August 22, 2022
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Asia Seed Co., Ltd. announced a private placement of round 6 non-guaranteed convertible bonds for gross proceeds of KRW 3,000,000,000 and 752,823 convertible preferred shares for KRW 2,999,999,655 for total proceeds of 5,999,999,655 on August 23, 2022. The transaction will include participation KB Securities Co., Ltd., Investment Arm of KRW 500,000,000, Ace Susung New Technology Fund 15 of KRW 2,000,000,000 and SUSUNG ASSET MANAGEMENT Co., Ltd. of KRW 500,000,000. The bonds will be fully convertible into common shares at a conversion price of KRW 4,564 per share.
The conversion period of the bonds will be from August 25, 2023 to July 25, 2026. The subscription date is August 25, 2022 and the payment date is August 25, 2022. The expected closing date is August 25, 2022.The transaction was approved by the board of directors of the company.
ASIA SEED Co.,LTD is a Korea-based company mainly engaged in the development, manufacture and sale of seeds and seedlings. The Company provides seeds and seedlings of white cabbages, red cabbages, broccolis, herbs, onions, cucumbers, corns, carrots, radishes, watermelons, tomatoes, hot peppers, eggplants, lettuces, beans, spinaches, shallots, muskmelons, pumpkins, fragrant flowered garlic, functional leafy vegetables as well as edible flowers, among others. In addition, it is involved in the provision of health care food, garden supplies and others. It also provides sprout cultivators. The Company distributes its products within domestic market and to overseas markets.
ASIA SEED Co.,Ltd. announced that it expects to receive KRW 5.999999655 billion in funding from KB Securities Co., Ltd., Investment Arm, Ace Susung New Technology Fund 15, SUSUNG ASSET MANAGEMENT Co., Ltd.
ASIA SEED CO.,LTD. 
