Okins Electronics Co., Ltd. announced that it expects to receive KRW 5 billion in funding
March 01, 2023
Share
Okins Electronics Co., Ltd. announced a private placement of series 8 unsecured privately placed convertible bonds with bearer interest for a gross proceeds of KRW 5,000,000,000 on March 2, 2023. The transaction will include participation from Kiwon Choi. The bonds have yield to maturity of 2% and coupon rate of 2%. The bonds will mature on March 3, 2028. The bonds will be 100% converted into 250,062 common shares at a fixed conversion price of KRW 19,995 per share for an equity stake of 1.39%. The conversion period is from March 3, 2024 to February 3, 2028. The payment date of the transaction is March 3, 2023. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.
On June 5, 2023, the company announced that the bonds will now be 100% converted into 288,850 common shares at a fixed conversion price of KRW 17,310 per share.
On September 4, 2023, the company announced that the bonds will now be 100% converted into 357,219 common shares at a fixed conversion price of KRW 13,997 per share.
OKins Electronics Co.,Ltd is a Korea-based company principally engaged in the manufacturing and distribution of inspection sockets for semiconductors. The Company manufactures and sells burn-in and test sockets (BiTSs), test sockets, spring probes, memory module sockets, semiconductor business units, system business units and others. In addition, the Company provides light emitting diode (LED) tests, package tests, wafer tests and other semiconductor tests. in the mold business and rental business. The Company distributes its products within domestic market and to overseas markets.