Panstar Enterprise Co.,Ltd. announced that it has received KRW 2 billion in funding from BNK Securities Co., Ltd., Investment Arm
June 10, 2019
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Panstar Enterprise Co.,Ltd. (KOSDAQ:A054300) announced a private placement of 21st series of unregistered unguaranteed private convertible bonds for gross proceeds of KRW 2,000,000,000 on June 11, 2019. The transaction will include participation from existing investor BNK Securities Co., Ltd., Investment Arm for KRW 2,000,000,000. The bonds will carry a coupon rate of 2%. The bonds have yield to maturity of 2% and would mature on June 11,2022. The bonds will be fully convertible into 1,913,875 shares of the company at a fixed conversion price of KRW 1,045 per share from June 11, 2020 to May 11, 2022. The transaction has been approved by the board of directors of the company. The subscription date of bonds is June 11, 2019 and the payment date is June 11, 2019.
Panstar Enterprise Co., Ltd., formerly HESHBON.Co. Ltd. is a Korea-based company engaged in the manufacturing of automobile maintenance equipment. The Company's products consist of automotive lifts, including wheel alignment lifts, motorcycle lifts, scissor lifts and others; wheel equipment, including wheel aligners, wheel balancers and tire changers, as well as automatic transmission fluid (ATF) changers, exhaust gas detectors, smoke detectors, engine tune-up machines and auto consumables among others. The Company supplies its products within domestic market and to overseas markets, including France, North and South America, Australia, the Middle East and Japan.
PANSTAR ENTERPRISE CO.,LTD. 
