MK Electron Co., Ltd. announced that it expects to receive KRW 45 billion in funding
July 27, 2021
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MK Electron Co., Ltd. announced a private placement of round 6 non-guaranteed subordinated exchangeable bonds with bearer interest for gross proceeds of KRW 10,000,000,000 and round 7 bearer-type interest-bearing private placement subordinated convertible bonds for gross proceeds of KRW 5,000,000,000 and round 8 Bearer-type interest-bearing private placement senior convertible bonds for gross proceeds of KRW 30,000,000,000 for aggregate gross proceeds of KRW 45,000,000,000 on July 28, 2021. The transaction will include participation from Cloud IB Investment. The bonds will mature on August 18, 2051. The bonds carry a surface interest rate of 1.5%. The round 6 bonds are 100% convertible into 654,965 common shares at a price of KRW 15,268 per share from August 20, 2022 to July 19, 2051 and round 7 bonds are 100% convertible into 327,482 common shares at a price of KRW 15,268 per share from August 19, 2022 to July 19, 2051. The transaction has been approved by board of directors of the company. The payment date for bonds is August 19, 2021. The round 8 bonds will mature on August 18, 2026. The bonds carry a surface interest rate of 1%. The round 8 bonds are 100% convertible into 1,964,893 common shares at a price of KRW 15,268 per share from August 20, 2022 to July 19, 2051 and round 7 bonds are 100% convertible into 327,482 common shares at a price of KRW 15,268 per share from August 19, 2022 to July 19, 2026.
On August 18, 2021, the company announced that it has amended the maturity date of the round 6, round 7 and round 8 bonds to August 19, 2051.
MK ELECTRON CO., LTD. is a Korea-based company engaged in the manufacture of semiconductor package components. The Companyâs product portfolio consist of bonding wires, including gold bonding wires, Au-Ag alloy bonding wires, copper bonding wires and others, which are the materials for semiconductors manufacture that connect leads and silicon chips to transmit electrical signals; solder balls, which are the electronics solder parts that attach semiconductor chips, circuit modules and printed circuit boards (PCBs) to transmit electrical signals, as well as gold evaporate materials and gold sputtering targets. The Company distributes its products within domestic market and to overseas markets. On April 3, 2013, the Company established a new wholly owned subsidiary, MK Investment Co.,LTD, mainly engaged in the asset investments.
MK ELECTRON CO., LTD. 
