Sekonix Co., Ltd. (KOSDAQ:A053450) announced that it will receive KRW 20,000,000,000 in a round of funding on July 4, 2019. The company will issue 9th series unregistered coupon unguaranteed private convertible bonds. The maturity date of the bonds is July 8, 2022.
The bonds will not carry any interest. The transaction was approved by the board of directors of the company. The company will issue the bonds to Focus N4 Super Rich Pacific Hedge Fund 1 for KRW 3,200,000,000, Focus TF4 Super Rich Apollo Hedge Fund 1 for 1,800,000,000, Square Venture Investment Hedge Fund 3 for KRW 600,000,000, Square Venture Investment Hedge Fund 4 for KRW 400,000,000, Square Mezzanine Plus Hedge Fund 14 for 1,000,000,000, Square Sniper Hedge Fund 3 for KRW 500,000,000, Square Mezzanine Plus Hedge Fund 13 for KRW 5,000,000,000, Shinhan Investment Corp.
for KRW 3,000,000,000, EBEST Investment & Securities Co., Ltd. (KOSDAQ:A078020) for KRW 3,000,000,000, Ace Susung New Technology Fund 6 for KRW 1,000,000,000, Mirae Asset Daewoo Co., Ltd for KRW 1,000,000,000, and other investors. The bonds are 100% convertible at a conversion price of KRW 7,645 per share. Upon the conversion the company will issue 2,616,088 common shares.
The conversion period will start on July 8, 2020 and will end on June 8, 2022. The company expects to close the transaction on July 8, 2019. The method of issuance is domestic private convertible bonds issuance.
The bonds are convertible into equity.