Kumho Electric, Inc. announced that it expects to receive KRW 30 billion in funding from Meritz Securities Co., Ltd., Investment Arm
November 24, 2021
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Kumho Electric, Inc. announced a private placement of round 9th unregistered nonguaranteed private placement convertible bonds for gross proceeds of KRW 30,000,000,000 on November 25, 2021. The bonds carry interest rate of 2% per annum and a maturity rate of 5%. The bonds will mature on November 26, 2024. The transaction included participation from Meritz Securities Co., Ltd., Investment Arm. The bonds are 100% convertible into 8,368,200 common shares for 30.37% stake of the company at a conversion price of KRW 3,585 per share from November 26, 2022 to October 26, 2024. The transaction has been approved by the board of directors of the company. The subscription date and the payment date for bonds is November 26, 2021. The securities carry a hold period of one year from the date of issue.
KUMHO ELECTRIC, INC. is a Korea-based company engaged in the manufacture of general lightings and display lightings. The Company mainly operates its business through four segments, general lightings segment, which provides tube type fluorescent lamps, circular fluorescent lamps, bulb type fluorescent lamps, compact type fluorescent lamps, electrodeless lamps, incandescent lamps, halogen lamps, electronic ballasts and others, as well as light emitting diode (LED) lightings, including LED linear lamps, LED linear panels, LED floor lights, LED street lightings, LED sensor lights and others; information technology (IT) lightings segment and LED manufacturing segment, which provides back light units (BLUs), displays, cold cathode fluorescent lamps (CCFLs), LED chips and others, and automotive bulb segment. The Company also engages in the energy services business and rental business. It distributes its products within domestic market and to overseas markets.
KUMHO ELECTRIC, INC. 
