Hansongneotech Co.,Ltd. announced that it expects to receive KRW 10 billion in funding
November 22, 2021
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Hansongneotech Co.,Ltd. announced a private placement of 5th series unregistered non-guaranteed private equity convertible bonds for gross proceeds of KRW 10,000,000,000 on November 23, 2021. The transaction will include participation from Alchemist Pan Asia. The bond carries a surface interest rate of 2% and 3% maturity rate and would mature on May 30, 2025. The bonds can be 100% converted into 5,865,102 common shares for 10.17% stake of the company at a fixed conversion price of KRW 1,705 per share. The conversion period is from May 30, 2023 to April 30, 2025. The transaction is expected to close on May 30, 2022. The transaction has been approved by board of directors of the company. The securities are subject to a lock up period of 1 year.
HANSONGNEOTECH CO.,LTD., formerly Dongbu 3rd Special Purpose Acquisition Co., Ltd., is a Korea-based company principally engaged in the manufacture and sale of equipment which is used for flat panel display (FPD) manufacturing. The Companyâs products profile consists of fine metal mask (FMM) tension machines, support tension machines, laser trimmers, manual repair devices, mask inspection quality control (IQC) devices and pixel positioning accuracy (PPA) inspection machines, among others. These products mainly used for plasma display panels (PDPs), liquid crystal displays (LCDs), active matrix organic light emitting diodes (AMOLEDs) and others. In addition, the Company provides ultrasonic cleaners those are applied to FPD. It distributes its products within domestic market and to overseas markets.
HANSONGNEOTECH CO.,LTD. 
