GIGALANE Co.,Ltd. announced that it expects to receive KRW 7 billion in funding
July 29, 2020
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GIGALANE Co.,Ltd. (KOSDAQ:A049080) announced a private placement of series 18 convertible bonds for gross proceeds of KRW 7,000,000,000 on July 30, 2020. The transaction will include participation from Ideal Private Equity 1. The bonds are redeemable, will be issued at par, bear fixed coupon rate of 1%, yield to maturity is 4%, will mature on August 7, 2023, and are fully convertible into 6,266,786 common shares, representing 11.99% stake, at a fixed conversion price of KRW 1,117 per share from August 7, 2021 to July 7, 2023. The transaction has been approved by the board of directors of the company. The subscription date of the transaction is July 30, 2020, and the payment date is August 7, 2020.
GIGALANE Co.,Ltd. is a Korea-based company mainly engaged in the manufacture of radio frequency (RF) communication components and semiconductor equipment. The Company operates its business through three divisions: RF communication component division, semiconductor equipment division and other business division. Its RF communication component division engages in the manufacture of RF cable assemblies and RF connectors used for smart devices under the brand names of SCMP, SCMJ and others. Its semiconductor equipment division provides light-emitting diode (LED) and deep reactive ion etching (DRIE) etcher parts used for semiconductors. Its other business division provides inspection components, including probe cards and probe units. The Company distributes its products within domestic market and to overseas markets.
GIGALANE CO.,LTD. 
