DigiCAP Co., Ltd. announced that it expects to receive KRW 14 billion in funding from Golden Hill Co., Ltd., Stemline Co., Ltd
October 24, 2021
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DigiCAP Co., Ltd. announced a private placement of series 3 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 14,000,000,000 on October 25, 2021. The transaction will include participation from Stemline Co., Ltd for KRW 6,000,000,000 and Golden Hill Co., Ltd. for KRW 8,000,000,000. The bonds are issued at zero interest rate and yield to maturity of 3%. The bond would mature on December 10, 2026. The bonds can be 100% converted into 1,456,967 common shares for 16.93% stake of the company at a fixed conversion price of KRW 9,609 share. The conversion period is from December 10, 2022 to November 11, 2026. The transaction has been approved by the board of directors of the company. The subscription date is October 25, 2021 and the payment date is December 10, 2021. The bonds to be issued shall have a hold period of one year from the closing of the transaction.
DigiCAP Co., Ltd. is a Korea-based company mainly engaged in the provision of N-screen solutions and content security solutions. In addition, the Company is involved in the provision of broadcast service solutions, ultra high definition television (UHD) broadcast solutions, as well as the production and sale of broadcast service software. The N-screen solutions include video on demand (Vod) solution and mobile Internet protocol television (IPTV) solution. The content security solutions include conditional access systems (CASs), scrambler solution, digital rights management (DRM) and smart car security solution. The Company distributes its products within the domestic market and to overseas markets, including Netherlands.
DIGICAP CO., LTD. 