NK Mulsan CO., LTD. announced that it expects to receive KRW 32.189 billion in funding
September 07, 2021
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NK Mulsan CO., LTD. announced a private placement of series 30 non-guaranteed private equity convertible bonds with bearer type interest part for a gross proceeds of KRW 25,000,000,000 and 9,100,000 common shares of par value, KRW 100 at a price of KRW 790 per share for gross proceeds of KRW 7,189,000,000 for aggregate gross proceeds of KRW 32,189,000,000 on September 8, 2021. The transaction will include participation from Blue Whale No.1 Investment Association for bonds of KRW 25,000,000,000 and new investor, Trico 1 Fund for shares of KRW 7,189,000,000. The bonds have a coupon rate of 0% and yield to maturity of 2%. The bonds will mature on October 29, 2024. The bonds will be 100% converted into 26,766,595 common shares at a fixed conversion price of KRW 934 per share for an equity stake of 25.20%. The conversion period is from October 29, 2022 to September 29, 2024. The payment date of the transaction is October 29, 2021. The shares are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company. At present, the company has total issued shares of 79,439,210.
PlayGram Co Ltd formerly NK Mulsan Co Ltd is a Korea-based company principally engaged in the provision of corporate integrated purchasing agency services. The Company operates its business through two segments. The Maintenance Repair Operations (MRO) segment is engaged in the supply of subsidiary materials, maintenance materials, packaging and logistics materials, as well as research materials for business site operation. The Video Content Business segment is engaged in the planning, production and distribution of broadcast programs and performances.
PLAYGRAM CO., LTD. 
