MFM Korea,Co.,Ltd. announced that it expects to receive KRW 2 billion in funding from Meritz Securities Co., Ltd., Investment Arm, Samsung Securities Co. Ltd., Investment Arm
October 30, 2018
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MFM Korea,Co.,Ltd. (XKON:A251960) announced a private placement of 2nd series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 2,000,000,000 on October 1, 2018. The debentures will be issued at par. Debentures will be issued at 3% interest rate, 5% yield to maturity, and will mature on October 4, 2021. The debentures will be fully convertible into 79,814 common shares for 7.13% stake of the company at a fixed conversion price of KRW 25,058 per share. The conversion period is from October 4, 2019 to September 4, 2021. The transaction will include participation from Meritz Securities Co., Ltd., Investment Arm for KRW 1,500,000,000 and Samsung Securities Co. Ltd., Investment Arm for KRW 500,000,000. The transaction has been approved by the board of directors of the company. The transaction is expected to close on October 4, 2018.
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.
MFM Korea,Co.,Ltd. announced that it expects to receive KRW 2 billion in funding from Meritz Securities Co., Ltd., Investment Arm, Samsung Securities Co. Ltd., Investment Arm