Elentec Co., Ltd. announced that it expects to receive KRW 6 billion in funding.
April 16, 2012 at 12:00 am EDT
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Elentec Co., Ltd. (KOSE:A054210) announced a private placement of series no. 3 bonds and warrants for gross proceeds of KRW 6,000,000,000 on April 16, 2012. The bonds will bear interest at 3% per annum and will mature on October 18, 2016. The warrants will be detachable and exercisable into common shares of the company at KRW 3,616 per share for a period from April 19, 2013 to September 18, 2016. On the same day, the board of directors of the company approved the transaction. The subscription date and payment date for the transaction is April 18, 2012.
Elentec Co., Ltd. is a Korea-based company mainly engaged in the manufacture of battery packs. The Companyâs products portfolio consist of battery packs for mobile phones, digital cameras, camcorders and note personal computers (PCs); three-dimensional television glasses, which are supplied to Samsung Electronics; function boards used for television and monitors, as well as protection circuit modules (PCMs), which are supplied to mobile battery pack manufacturers. The Companyâs products are mainly distributed to Samsung Electronics, DELL, Apple, Samsung Anycall and others.
ELENTEC CO., LTD. 
