Finetek Co., Ltd. announced that it expects to receive KRW 18.2 billion in funding from Golden Bridge Asset Management Co., Ltd., Ryukyungpsg Asset Management Inc, and other investors
August 01, 2016
Share
Finetek Co., Ltd. (KOSDAQ:A131760) announced a private placement of first unregistered/unsecured non-detachable private bonds for gross proceeds of KRW 18,200,000,000 on August 2, 2016. The bonds will mature on August 9, 2019. The bonds will have yield to maturity of 4% and will carry zero coupon with lump-sum redemption of principal on maturity date. The company will also issue warrants in the transaction. The warrants will be 100% exercisable into common shares of the company at KRW 6,858 per share from August 9, 2017 to July 9, 2019. The subscription date is August 4, 2016 and payment date is August 9, 2016. The transaction will include participation from new investors Synergy Partners Co., Ltd. for KRW 3,500,000,000, Ryukyung PSG Mezzanine Plus Private Fund for KRW 5,000,000,000, Seong Min Kim for KRW 3,200,000,000, GB Synergy Mezzanine PF Bond K-5, K-6, K-7, K-8, HNW-2 [balanced bond] and GB Synergy Total Mezzanine Private Fund E-1, funds managed by Golden Bridge Asset Management Co., Ltd. and Korea Securities Finance Corporation for KRW 1,300,000,000, and GB Synergy Mezzanine Specialty Investment Private Fund K-1, K-2, K-3, K-4 [balanced bond] and GB Synergy Total Mezzanine Specialty Investment Private Fund K-1, K-2, S-1, funds managed by Golden Bridge Asset Management Co., Ltd. and Korea Securities Finance Corporation for KRW 5,200,000,000. The transaction has been approved by the board of directors of the company.
FINETEK CO., LTD. is a Korea-based company principally engaged in engaged in the manufacture and distribution of display components. The Company mainly manufactures display components including black light units (BLUs) which are used in smart phones, tablet personal computers, navigations and other digital products. The Company also produces touch screen panels (TSPs) which are touch screen modules used in mobile devices, and liquid crystal display (LCD) modules (LCMs) and TSP sensors. The Company manufactures and distributes its products in domestic and overseas markets.
Finetek Co., Ltd. announced that it expects to receive KRW 18.2 billion in funding from Golden Bridge Asset Management Co., Ltd., Ryukyungpsg Asset Management Inc, and other investors