M CORSET, Inc. announced that it expects to receive KRW 4 billion in funding
October 18, 2018
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M CORSET, Inc. (KOSDAQ:A204020) announced a private placement of 3rd series unsecured private convertible debentures for gross proceeds of KRW 4,000,000,000 from Y lifestyle value business fund on October 19, 2018. The bond is issued at 0% nominal rate, 1% maturity rate and will mature on November 2, 2021. The bonds can be 100% converted into 370,816 common shares for 4.44% stake of the company at a fixed conversion price of KRW 10,787 per share. The conversion period is from November 2, 2019 to November 1, 2021. The transaction has been approved by the board of directors of the company. The subscription date is October 23, 2018 and the transaction payment is expected to close on November 2, 2018.
GRITEE, Inc., formerly M CORSET, Inc. is a Korea-based company principally engaged in the manufacturing and sale of women's underwear. The Companyâs product profile consists of brassieres, panties, girdles, body suits, negligees and leggings. In addition, the Company provides men's panties, running shirt and others. These products are sold under the brand names of Wonderbra, Playtex, Crocodile, Just My Size, Missing Dorothy, Maidenform, Himico, Dr.Miz, among others. The Company distributes its products within domestic market and to overseas markets, such as America and other Asian countries. Its main subsidiaries are inclusive of M Global, Inc., Dr. MIZ KOREA. Inc. and others.
GRITEE, INC. 
