Smark Co.,Ltd announced that it expects to receive KRW 1.2 billion in funding
December 08, 2016
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SMARK Co., Ltd. (KOSDAQ:A030270) announced a private placement of 13th unregistered unsecured private bonds with warrants for gross proceeds of KRW 1,200,000,000 on December 9, 2016. The bonds carry fixed coupon rate of 2% per annum and fixed yield to maturity of 5%. The warrants are exercisable at KRW 2,975 per share. The bonds will mature on December 9, 2019.
On November 9, 2017, the company announced that it has amended the terms of the transaction. The company announced that the warrants will be exercised into 1,286,174 shares at a price of KRW 933 per share.
On January 16, 2018, the company announced that the warrants will be exercised at a price of KRW 628 per share and will be exercised into 159,235 shares.
SMARK CO., LTD, formerly KAHEE CO., LTD is a Korea-based company engaged in the manufacture and distribution of yarns. The Company produces cotton yarns, combed cotton yarns, blended yarns, slub yarns, core yarns and compact yarns for knitting, weaving and industrial uses. It also provides ring combed cotton yarns, ring slub yarns, stretch core spun yarns and others. The Company operates Gaju mills and Sinni mills with open ended spinners, which are also known as air spinnings, as well as ring spinners. The Company distributes its products within domestic market and to overseas markets.
KAHEE CO., LTD. 
