DASAN Networks, Inc. announced that it expects to receive KRW 20 billion in funding from SUSUNG ASSET MANAGEMENT Co., Ltd., Focus Asset Management Co., Ltd.
May 08, 2018
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DASAN Networks, Inc. (KOSDAQ:A039560) announced a private placement of 6th unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 and 7th unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 for aggregate proceeds of KRW 20,000,000,000 on May 9, 2018. The transaction will include participation from Focus Asset Management Co., Ltd. for KRW 4,000,000,000, Hands Partners Limited Company for KRW 1,000,000,000, and existing investor Susung Asset Management Co., Ltd. for KRW 12,000,000,000 and new investor Ace Susung New Technology Fund 4 for KRW 3,000,000,000. The bonds do not carry any annual coupon and will be issued at par. The bonds carry yield to maturity of 1% and will mature on May 11, 2022. The bonds are convertible into 1,479,289 common shares at a conversion price KRW 6,760 per share between May 11, 2019 and April 11, 2022. The transaction is expected to close on May 11, 2018. The transaction has been approved by the board of directors of the company.
DASAN Networks, Inc. is a Korea-based company mainly engaged in the provision of network communication equipment. The Company mainly provides switches and digital subscriber line (xDSL) solutions, which enable wire-speed transmissions required for managing high-density data switching applications; fiber to the X (FTTx) solutions, which enable service providers to deliver bandwidth solutions; triple play service (TPS) devices, including Internet protocol (IP) set-top boxes (STBs), wireless fidelity (Wi-Fi) phones, desktop phones, IP phones and others, as well as gigabit Ethernet line cards, software and others. The Company distributes its products within domestic market and to overseas markets.
DASAN Networks, Inc. announced that it expects to receive KRW 20 billion in funding from SUSUNG ASSET MANAGEMENT Co., Ltd., Focus Asset Management Co., Ltd.
DASAN NETWORKS, INC. 
