CITECH Co., Ltd. announced that it expects to receive KRW 10 billion in funding from Nucleo Invest Co., Ltd.
June 08, 2022
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CITECH Co., Ltd. announced a private placement of series 11 bearer type private equity convertible bond for an aggregate gross proceeds of KRW 10,000,000,000 on June 9, 2022. The transaction will include participation from Nucleo Invest Co., Ltd. The bonds carry coupon rate of 4% and maturity rate of 6% and will mature on July 20, 2025. The bonds are fully convertible into 7,855,459 shares at a conversion price of KRW 1,273 per share. The conversion period starts at July 20, 2023 and ends on June 20, 2025. The transaction is expected to close on July 20, 2022. The transaction has been approved by the board of directors of the company.
On July 20, 2022, the company announced that the bonds will mature on August 28, 2025. The conversion period starts at August 28, 2023 and ends on July 28, 2025. The transaction is expected to close on August 31, 2022.
On August 31, 2022, the company announced that the bonds will mature on October 30, 2025. The conversion period starts at October 30, 2023 and ends on September 30, 2025. The transaction is expected to close on October 31, 2022.
CITECH CO.,LTD, formerly SAMYUNG HOLDINGS CO., LTD is a company primarily engaged in the system integration (SI) business. Along with subsidiaries, the Company operates its business through two segments. The Information Technology (IT) Business segment is mainly involved in the development, manufacturing and sale of unmanned automatic certificate issuing machine, and the development and supply of book management system. The Other Distribution and Leasing Business segment is mainly engaged in the distribution of IT related equipments and the leasing of real estates.
CITECH CO., LTD. 
