MFM KOREA Co., Ltd. announced that it expects to receive KRW 6 billion in funding
March 17, 2021
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MFM KOREA Co., Ltd. (KOSDAQ:A323230) announced a private placement of round 4 non-guaranteed private convertible bonds for gross proceeds of KRW 6,000,000,000 on March 18, 2021. The bonds are zero coupon and carry 0% yield to maturity and will mature on March 22, 2026. The bonds are 100% convertible into 2,719,854 common shares for 13.04% stake of the company at a fixed conversion price of KRW 2,206 per share. The conversion period is from March 22, 2022 to February 22, 2026. The transaction will include participation from Synergy Turnaround No. 14 New Technology Business Fund for KRW 1,000,000,000; BNK Investment & Securities Co., Ltd for KRW 1,000,000,000; Orian Luxury KOSDAQ Venture Professional Investment Private Equity Trust No. 43 for KRW 200,000,000; Orian Luxury KOSDAQ Venture Private Equity Fund No. 51 for KRW 600,000,000; Orian Luxury KOSDAQ Venture Professional Investment Private Equity Trust No. 58 for KRW 200,000,000; Platform Smart Venture Professional Investment Type Private Equity Trust No. 3 for KRW 300,000,000; Platform Special Multi 60 KOSDAQ Venture Professional Investment Private Equity Trust No. 1 for KRW 700,000,000; Darum IPO KOSDAQ Venture Professional Investment Private Equity Trust No. 2 for KRW 600,000,000; Darum IPO KOSDAQ Venture Professional Investment Private Equity Trust No. 2 for KRW 400,000,000; Cha Partners KOSDAQ Venture Professional Investment Type Private Equity Trust No. 1 for KRW 1,000,000,000;
MFM Korea Co Ltd, formerly Shinhan 5th Special Purpose Acquisition Co, is a Korea-based company mainly engaged in the manufacture, import and export of clothing and textiles. The Company manufactures and sells men's, women's, boys' and girls' knitted garments in original equipment manufacturing(OEM)and original design manufacturing(ODM) methods. The Company's products are sold under brands such as Aeropostale, Nautica, Vans, Lacoste, and Forever 21. In addition, the Company sells its products through social media platforms. The Company is also engaged in licensing related business.