Sangji Caelum, Inc. announced that it expects to receive KRW 9 billion in funding from KTB Investment & Securities Co., Ltd., Investment Arm
May 25, 2020
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Sangji Caelum, Inc. (KOSDAQ:A042940) announced a private placement of 18th series non-guaranteed private convertible bonds for gross proceeds of KRW 9,000,000,000 on May 26, 2020. The transaction will include participation from existing investor KTB Investment & Securities Co., Ltd., Investment Arm. The bond carry coupon rate of 3% and have yield to maturity of 6%. The bonds will mature on May 27, 2023. The bonds will be 100% converted into 4,731,861 common shares of the Sangji Kyle Room Co., Ltd, representing 9.66% of the total number of shares at a fixed conversion price of KRW 1,902 per share. The conversion period is from May 27, 2021 to May 26, 2023. The transaction has a subscription date of May 26, 2020 and payment date of May 27, 2020. The transaction has been approved by the board of directors of the company. The securities issued in the transaction are subject to a lock up period of 1 year.
Seong An Materials Co Ltd, formerly SEONGAN CO., Ltd., is a Korea-based company engaged in the construction businesses. The Company operates through three segments. The Sales Construction segment is engaged in the sales business of luxury villas and high-end officetels. The Contract Construction segment is engaged in the provision of facilities construction services such as electricity, communication, and firefighting for buildings. The Other segment is engaged in the provision of real estate-related services.
SANGJI CONSTRUCTION, INC. 