Barunson Entertainment & Arts Corporation announced that it expects to receive KRW 5 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Samsung Securities Co. Ltd., Investment Arm, Mirae Asset Daewoo Co., Ltd., Investment Arm, KB Securities Co., Ltd., Investment Arm
April 15, 2020
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Barunson E&A Corporation (KOSDAQ:A035620) announced a private placement of series 20 non-guaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on April 16, 2020. The transaction will involve participation from new investors, NH Investment & Securities Co., Ltd., Investment Arm for KRW 2,000,000,000, Samsung Securities Co. Ltd., Investment Arm for 1,660,000,000, Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 900,000,000, and KB Securities Co., Ltd., Investment Arm for KRW 440,000,000. The bonds will carry no coupon, carry a yield to maturity of 4%, and will mature on April 21,2025. The bonds are fully convertible into 2,220,248 shares representing 3.02% stake in the company at a fixed conversion price of KRW 2,252 from April 21, 2021 to March 21, 2025. The subscription date is April 20, 2020 and the payment date is April 21, 2020. The transaction has been approved by the board of directors of the company.
Barunson Entertainment & Arts Corporation, formerly Barunson Games Corporation, is a Korea-based company engaged in development and publishing of online games. The Companyâs products include Era of Darkness Last Chaos, full three-dimension massively multiplayer online role-playing game Laghaim, online casual social network game BonoBono Online, and Acheron. It also involves in the provision of Internet services and software consulting services through its affiliates. The Company provides its services within domestic market and to overseas markets including the United States, Germany, Spain, Russia, Turkey, Thailand and others.
Barunson Entertainment & Arts Corporation announced that it expects to receive KRW 5 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Samsung Securities Co. Ltd., Investment Arm, Mirae Asset Daewoo Co., Ltd., Investment Arm, KB Securities Co., Ltd., Investment Arm