Gamma Nu Inc. announced that it expects to receive KRW 20 billion in funding from SMV Co., Ltd and another investor
June 11, 2017
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Gamma Nu Inc. (KOSDAQ:A192410) announced a private placement of 1st unregistered coupon unguaranteed private placement non-detachable bonds with stock warrants for gross proceeds of KRW 10,000,000,000 and 1,249,375 common shares at a price of KRW 8,004 for gross proceeds of KRW 9,999,997,500 on June 12, 2017. The transaction will involve participation from new investor Primer One Co., Ltd., which will invest in the bonds, and returning investor, SMV Co., Ltd, which will invest in shares. The shares will be issued through third party allotment. The bonds will not carry any coupon rate and will have a yield to maturity rate of 2.5%. The bonds will mature on August 21, 2020. The warrants will be exercisable into 1,111,111 shares at an exercise price of KRW 9000 from August 21, 2018 to August 20, 2020. The payment date for the issue of bonds is August 21, 2017 and for the issue of shares is September 6, 2017. The shares will be subject to a lock up of one year. The transaction was approved by the board of directors of the company.
On August 7, 2017, the company announced that the payment date has been changed to August 30, 2017.
Hyulim Networks Co Ltd, formerly The HQ Co Ltd, is a Korea-based company principally engaged in the manufacture and sale of antennas. The Company operates its business through two segments. The Antenna Business segment researches, develops, manufactures and sells base station antennas that provide communication services by sending and receiving wireless signals from mobile communication repeaters and base station systems to portable multimedia terminals. The Inbound Platform Business segment provides services such as designing inbound platform, signing a customer contract with duty-free shops, negotiating customer fees, financing and support, tax support, product introduction data, and tourist information sharing, among others.