Daebo Magnetic Co.,Ltd. announced that it expects to receive KRW 14 billion in funding from J&Magnet Startup Venture Specialized Private Equity Fund
July 23, 2019
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Daebo Magnetic Co.,Ltd. (KOSDAQ:A290670) announced that it will issue series 2 unregistered coupon unsecured private convertible bond for gross proceeds of KRW 14,000,000,000 on July 24, 2019. The transaction will include participation from new investor J&Magnet Startup Venture Specialized Private Equity Fund. The bonds will bear a zero coupon rate and yield to maturity of 2% per annum. The bonds will mature on July 31, 2023. The bonds will be fully convertible into 289,927 common shares representing 8.23% stake in the company at a fixed conversion price of KRW 48,288 per share from July 31, 2020 to June 30, 2023. The transaction has been approved by the board of director of the company. The transaction is expected to close on July 31, 2019.
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. 
