KidariStudio, Inc. announced that it expects to receive KRW 4.8999958 billion in funding from Korea Investment Partners Co. Ltd., History Investment Co., Ltd., Hana Ventures
September 16, 2019
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KidariStudio, Inc. (KOSE:A020120) announced a private placement of series 23 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 2,800,000,000 and 551,180 common shares at a price of KRW 3,810 per share for gross proceeds of 2,099,995,800 for aggregate gross proceeds of KRW 4,899,995,800 on September 17, 2019. The transaction will involve participation from new investors, Korea Investment Growth Capital Fund No. 17 for KRW 560,000,000, Korea Investment Impact Fund(17) and Korea Investment Key Fund(17) for KRW 420,000,000 each, and other investors, all funds managed by Korea Investment Partners Co. Ltd. The company will increase the capital through third party assignment method. The bonds will mature on September 18, 2024. The bonds carry no coupon and have yield to maturity of 1%. The bonds are 100% convertible into 640,732 common shares, representing 3.9% stake in the company. The bonds can be converted at a conversion price of KRW 4,370 from September 18, 2020 to August 16, 2024. The transaction is expected to close on September 18, 2019. The transaction has been approved by the board of directors of the KidariStudio, Inc. (KOSE:A020120) announced a private placement of series 23 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 2,800,000,000 and 551,180 common shares at a price of KRW 3,810 per share for gross proceeds of 2,099,995,800 for aggregate gross proceeds of KRW 4,899,995,800 on September 17, 2019. The transaction will include participation from new investors Korea Investment Essence Fund(17), Korea Investment High Fund(17), Korea Investment Joint Fund(17), Korea Investment Key Fund(17), Korea Investment Impact Fund(17), Korea Investment Beyond Fund 17, Korea Investment Growth Capital Fund No. 17, Korea Investment Future Fund(17), returning investors Hana Ventures and History Investment Co., Ltd. The company will increase the capital through third party assignment method. The bonds will mature on September 18, 2024. The bonds carry no coupon and have yield to maturity of 1%. The bonds are 100% convertible into 640,732 common shares, representing 3.9% stake in the company. The bonds can be converted at a conversion price of KRW 4,370 from September 18, 2020 to August 16, 2024. The transaction is expected to close on September 18, 2019. The transaction has been approved by the board of directors of the company. The transaction has been approved by the board of directors of the company. The securities issued in the transaction have a lock up period of 1 year.
KidariStudio Inc, formerly Daouincube, is a Korea-based company engaged in the provision of technological solutions to publishing industry. It provides solutions for creating rich media contents deliverables for multi-channels including tablet personal computers, smart phones and other interactive electronic devices. It operates two business divisions. Its Quark division specializes in domestic operation and marketing for QuarkXPress products and Quark solutions, which are software used in desktop publishing (DTP) electronic publishing and editing sectors. Its E-Book division provides conversion solutions, which enables automatic conversion of original publication made by QuarkXPress to ePub files. On February 20, 2014, the Company sold its entire shares of Smartphy, a Korea-based company engaged in the manufacturing of semiconductor development.
KidariStudio, Inc. announced that it expects to receive KRW 4.8999958 billion in funding from Korea Investment Partners Co. Ltd., History Investment Co., Ltd., Hana Ventures