Homecast Co., Ltd. announced that it has received KRW 400 million in funding.
April 01, 2014 at 12:00 am EDT
Share
Homecast Co., Ltd. (KOSDAQ:A064240) announced a private placement for gross proceeds of KRW 400,000,000 on April 1, 2014. The company issued its 9th domestic unregistered unsecured private convertible bonds as part of the transaction. The bonds were subscribed by individual investor Hye-Kyoung Park. The bonds will carry a yield to maturity of 8%, annual coupon of 4%, and will mature on April 1, 2017. The bonds are 100% convertible into common shares of the company at KRW 3,175 per share between April 1, 2015 and March 1, 2017. The transaction was approved by the board of directors of the company.
On April 1, 2014, Homecast Co., Ltd. closed the transaction.
HOMECAST CO.,LTD. is a Korea-based company specialized in the manufacture of set top boxes (STBs). The Company mainly engaged in the provision of digital STBs and STB components. The company provides its products under the brand name of HOMECAST. The Company distributes its products within domestic market and to overseas markets, including India, China, Japan, Middle East, Africa, Europe and Oceania countries.
HOMECAST CO.,LTD. 
