Asia Seed Co., Ltd. announced that it expects to receive KRW 2.5 billion in funding from KDB Private Equity, Yuanta Investment.
May 19, 2015
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Asia Seed Co., Ltd. announced a private placement of 595,237 registered limited redeemable convertible preferred shares at KRW 4,200 per share for gross proceeds of KRW 2,499,995,400 on May 20, 2015. The transaction will include participation from KDB Private Equity and Yuanta Investment for 476,190 shares and 119,047 shares. The company will issue the shares at a discount of 5.26%. The shares are convertible into common stock. The conversion period will be after the initial issuance date and before maturity date. The payment date for the shares is expected on May 22, 2015. The transaction was approved by the board of directors of the company.
On May 21, 2015, the company announced that the expected closing date has now been postponed to June 9, 2015.
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. 
