International Display Solutions Co.,Ltd. announced that it has received KRW 5.5 billion in funding from Lumens Co., Ltd..
December 23, 2014
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International Display Solutions Co.,Ltd. (KOSDAQ:A078780) announced a private placement of ninth unregistered/unsecured private convertible bonds for gross proceeds of KRW 5,500,000,000 on December 22, 2014. The bonds will mature on December 24, 2017. The bonds will have an annual coupon of 0% and yield to maturity of 6% with lump-sum redemption of principal on maturity date for the bonds. The bonds will have a 100% conversion rate and will be convertible into common shares at a fixed conversion price of KRW 500 per share. The conversion period will be from December 24, 2015 to November 24, 2017. The transaction will involve participation from Lumens Co., Ltd.
On December 24, 2014, International Display Solutions Co.,Ltd. closed the transaction.
Lumens Co.,Ltd. is a Korea-based company mainly engaged in the manufacture of light emitting diode (LED) products. The Company operates its business through two business divisions: LED division and communication division. Its LED division provides LEDs and LED modules used for liquid crystal display (LCD) back light units (BLUs), spot lightings, street lightings, factory lightings, automobiles, mobile phones and others. It communication division provides military and civilian communications equipment, such as mobile radio frequency modules (MRFMs), base station radio frequency modules (BRFMs), radio access units (RAUs) and others. The Company distributes its LED products within domestic market and to overseas markets.
LUMENS CO., LTD. 
