IL Science Co., Ltd. announced that it expects to receive KRW 6 billion in funding
November 03, 2020
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IL Science Co., Ltd. (KOSDAQ:A307180) announced a private placement of 2nd unregistered coupon non-guaranteed private equity convertible bonds for gross proceeds of KRW 6,000,000,000 on November 4, 2020. The transaction will include participation from K&T-Kium 1 New Technology Business Fund. The debt maturity date is November 5, 2020. The notes carry an interest rate to maturity of 2%. The notes can be converted 1,867,995 shares at a price of KRW 3,212. The conversion period starts from November 5, 2021 and ends on October 5, 2023. The payment date is November 5, 2020. The transaction has been approved by the board.
IL Science Co,.Ltd., formerly Shinyoung HappyTomorrow No.4 Special Purpose Acquisition Company, is a Korea-based company mainly engaged in the manufacturing and distribution of lighting products. The Company manufactures and sells exterior lighting products, including pole lights, security lights, photovoltaic security lights, colonnade lights, bollards, head streets, wall lights, tunnel lights, flood lights; interior lighting products such as down lights, rail lights, parking lights, fluorescent lights, and others. The Company also produces and sells internet of things (IoT) smart products involving smart coordinators, smart routers, smart human detectors, smart motion sensors; as well as silicone lenses.
IL SCIENCE CO., LTD. 