DUAL Co.,Ltd. announced that it expects to receive KRW 20 billion in funding from Premier Partners, LLC
July 05, 2017
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DUAL Co.,Ltd. (KOSE:A016740) announced a private placement of 4,000,000 registered redeemable convertible preferred shares at a price of KRW 5,000 per share for gross proceeds of KRW 20,000,000,000 on July 6, 2017. The transaction will involve participation from new investor Premier Growth Strategy M&A Private Equity Fund, a fund managed by Premier Partners, LLC. The preferred shares will be convertible into 4,000,000 common shares. The preferred shares are redeemable between the period starting and ending February 12, 2020 and August 12, 2022 respectively. The securities will be issued by a way of third party allotment. The expected payment date for the transaction is August 11, 2017. The securities are subject to a lock-up period of one year. The transaction has been approved by the board of directors of the company.
DUAL Co., Ltd is a Korea-based company primarily engaged in the manufacture and distribution of automotive interior products. The Companyâs products include car seat fabrics, seat coverings, airbags and carpet molding products. The Company distributes its products within domestic market and to overseas markets.