SDN Company Limited announced that it expects to receive KRW 3 billion in funding
May 09, 2017
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SDN Company Limited (KOSDAQ:A099220) announced a private placement of series 8 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 3,000,000,000 on May 10, 2017. The transaction includes participation from individual investors including Kihyuk Choi for KRW 500,000,000, Hyunggeun Baek for KRW 300,000,000, Hyukjae Woo for 200,000,000. The transaction also includes participation from Jangsucheon Partners Co., Ltd for KRW 2,000,000,000. The bonds will mature on May 12, 2020. The bonds will have a coupon rate of 4% and yield to maturity of 4% per annum. The bonds are convertible into 2,158,273 common shares at 100% conversion rate at a fixed conversion price of KRW 1,390 per share from May 12, 2018 to April 12, 2020. The subscription date and payment date of bonds is May 12, 2017. The transaction has been approved by the board of directors of the company.
SDN Company., Ltd. is a Korea-based company mainly engaged in the solar business and engine and shipbuilding business. The Company operates its business through two divisions: solar division and engine and shipbuilding division. Its solar division is engaged in the manufacture of solar panels, hetero-junction with intrinsic thin layer (HIT) modules, trackers, switchboards, monitoring and control systems, and the engineering of solar power plants. Its engine and shipbuilding business division provides four-stroke outboard motors and related components, which are used in fishing and leisure boats.
SDN COMPANY., LTD. 
