Daebo Magnetic Co.,Ltd. announced that it expects to receive KRW 10 billion in funding
June 11, 2019
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Daebo Magnetic Co.,Ltd. (KOSDAQ:A290670) announced a private placement of 1st round unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on June 12, 2019. The transaction will include participation from JN Private Equity. The bonds will be issued at par value. The bonds will not carry any coupon and have yield to maturity of 2%. The bond would mature on July 4, 2023. The bond will be 100% convertible into 205,018 common shares of the company at a fixed conversion price of KRW 48,776 per share from July 5, 2020 to July 3, 2023. The transaction is expected to close on July 5, 2019. The transaction has been approved by the board of directors of the company.
DAEBO MAGNETIC CO.,LTD is a Korea-based company engaged in the manufacturing and distribution of magnet and magnet application equipments. The Company principally manufactures and distributes electro magnetic filters (EMFs). It is divided into dry and wet EMFs, which is used for removal of trace iron debris in the secondary battery materials. The Company also manufactures and sells magnetic separators (MSs), including suspended MSs, grate MSs, wet drum MSs and others. In addition, the Company produces and sells non-ferrous MSs, metal detectors, transport magnets, as well as other applications.
DAEBO MAGNETIC CO.,LTD. 
