Metalabs Co., Ltd. announced that it expects to receive KRW 12 billion in funding from Royalpinespartners Co. Ltd
September 31, 2021
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Metalabs Co., Ltd. announced a private placement of series 12 unregistered coupon nonguaranteed private convertible bond for an aggregate gross proceeds of KRW 12,000,000,000 on September 1, 2021. The transaction will include participation from BNS Investment Ltd. The bonds will carry rate of interest of 2% and maturity rate of 3% per annum. The bonds will mature on October 29, 2024. The bonds will be convertible into 10,647,737 common shares of the company at a conversion price of KRW 1,127 per share. The conversion period will start from October 29, 2022 and end on September 29, 2024. The transaction is expected to close on October 29, 2021. The transaction has been approved by the board of directors of the company.
METALABS CO., LTD., formerly AVISTA INC., is a Korea-based company mainly engaged in the casual apparel business. The Company produces and sells casual apparel and accessories under the brand of BNX, which is feminine and romantic character for women in their twenties; TANKUS, which is casual apparel with detailed design and dynamic color and fabrics; eryn brinie, which is soft and simple character casual apparel, and Kai-aakmann, which is feminine and masculine look character for men and women in their twenties. In addition, it is engaged in the overseas wholesale and retail of products through its affiliates in Shanghai, New York and Milano.
METALABS CO., LTD. 
