Orbitech Co., Ltd. announced that it expects to receive KRW 10 billion in funding
January 04, 2021
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Orbitech Co., Ltd. (KOSDAQ:A046120) announced a private placement of series 5 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 10,000,000,000 on January 5, 2021. The transaction will include participation from DB-KAI New Technology Fund No. 3. The bonds are redeemable, will be issued at par, carry fixed interest rate of 1% per annum, yield to maturity rate of 3%, will mature on March 29, 2024, and are fully convertible into 2,100,399 shares, representing 8.22% stake in the company, at a fixed conversion price of KRW 4,761 per share, from March 29, 2022 to February 29, 2024. The transaction has been approved by the board of directors of the company, and is expected to close on March 29, 2021.
Orbitech Co., Ltd., formerly Korea NonDestructive Testing Co., Ltd., is Korea-based company engaged in the provision of nondestructive testing (NDT) and other services. The Company operates in four categories of businesses: NDT business, which provides NDT services for gas pipes, oil pipes, power plants, ships, bridges, buildings, vessel and tanks; nuclear energy business, which provides radiation-related services, such as radiation management, radiation protection and decontamination, and wastes management services for facilities and utilities; environment business, which provides process development services and analysis services, such as soil, water and marine waste analysis services, and in-service inspection (ISI) business, which provides ISI services used in nuclear power plant sector.
ORBITECH CO., LTD. 
