Pan Entertainment Co., Ltd. announced that it expects to receive KRW 20 billion in funding
June 02, 2021
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Pan Entertainment Co., Ltd. (KOSDAQ:A068050) announced private placement of series 4 unnamed surrogate non-guaranteed private placement convertible bonds for gross proceeds of KRW 20,000,000,000 with NH-Meritz Contents No. 1 New Technology Association on June 3, 2021. The bonds does not bear any interest and matures on June 7, 2026. The bonds are convertible into 2,607,901 shares representing 8.73% stake at a fixed conversion price of KRW 7,669 per share between June 07, 2022 to May 07, 2026. The expected payment date is June 7, 2021. The transaction is approved by the board of directors of the company.
PAN ENTERTAINMENT CO.,LTD. is a Korea-based company mainly engaged in the production of broadcasting programs. The Company operates its business through two divisions: broadcasting programs business division and rental business division. The broadcasting programs business division is mainly engaged in the production of television (TV) dramas, as well as culture and entertainment programs, which are provided to TV broadcasting companies, and operation of music records business, which produces music records for original sound tracks (OSTs). It also engages in the management of its artists. The rental business division is involved in the building rental and leasing business. The Company distributes its products within domestic market and to overseas markets.
PAN ENTERTAINMENT CO., LTD. 
