Dayou AP Co.,Ltd. announced that it expects to receive KRW 13.5 billion in funding from Mirae Asset Daewoo Co., Ltd., Investment Arm, Hands Partners Co., Ltd.
June 23, 2019
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Dayou AP Co.,Ltd. (KOSDAQ:A290120) announced a private placement of series 1 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 13,500,000,000 on June 24, 2019. The transaction will involve participation from Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 1,500,000,000, Hands Partners Co., Ltd. for KRW 1,500,000,000, Kclavis New Technology Fund 7 for KRW 6,500,000,000, KB Brain KOSDAQ Scale Up New Technology Fund for KRW 3,000,000,000 and GVA Pure Mezz Hedge Fund for KRW 1,000,000,000. The bonds carry coupon of 2% and have a yield to maturity of 5%. The bonds will mature on June 28, 2022. The bonds are 100% convertible at fixed conversion price of KRW 9,717 per share into 1,389,317 shares. The conversion period will start on June 28, 2020 and will end on May 28, 2022. The subscription date is June 26, 2019 and payment date is June 28, 2019. The transaction has been approved by board of directors of the company.
DH Autolead Co Ltd, formerly Dayou AP Co Ltd, is a Korea-based company principally engaged in the production and sale of steering wheels. The Company is engaged in the production and sale of leather and polyurethane (PU) steering handles and other products. In addition, the Company is engaged in the production and sale of steering wheel related accessories including horn caps and swithes.
Dayou AP Co.,Ltd. announced that it expects to receive KRW 13.5 billion in funding from Mirae Asset Daewoo Co., Ltd., Investment Arm, Hands Partners Co., Ltd.