Seojin System Co.,Ltd announced that it expects to receive KRW 110 billion in funding from Crescendo Equity Partners Limited and another investor
February 16, 2021
Share
Seojin System Co., Ltd (KOSDAQ:A178320) announced a private placement of series 7 bearer non-guaranteed convertible bonds with interest for the proceeds of KRW 70,000,000,000 and series 8 bearer non-guaranteed convertible bonds for gross proceeds of KRW 40,000,000,000 for aggregate gross proceeds of KRW 110,000,000,000 on February 17, 2021. The transaction will involve participation from returning investors Jeon, Dong-gyu for series 8 bonds for gross proceeds of KRW 20,000,000,000 and Crescendo Equity Partners Limited. The bonds will carry coupon rate and yield to maturity of 2.5%. The maturity date of the series 7 bonds is March 22, 2026 and the series 8 bonds is March 25, 2026. The bonds are fully convertible at a conversion price of KRW 47,000 per share. The conversion period of the series 7 bonds will be from March 22, 2022 to February 22, 2026 and the series 8 bonds will be from March 25, 2022 to February 25, 2026. The subscription date is February 19, 2021 and the payment date of the series 7 bonds is March 22, 2021 and the series 8 bonds is March 25, 2021. The transaction has been approved by the board of directors of the company. The securities issued in the transaction has a lock in period of one year.
SEOJIN SYSTEM CO.,LTD is a Korea-based company principally engaged in the manufacturing, distribution and installation of communication equipment parts. Along with its subsidiaries, the Company operates its business through three segments. The Communication Equipment segment provides cabinets for remote radio heads (RRHs) and small repeaters, base station equipment, such as digital units (DUs) and others. The Cellular Phone segment produces mobile frames, metal cases for smart phone packing. The Semiconductor Equipment segment offers equipment front end modules (EFEMs) for semiconductor etching and coating machines, actuating devices and structures. The Company also provides light emitting diode (LED) cases, industrial and family use energy storage system parts, automobile parts and other product accessories, as well as real estate leasing services.
SEOJIN SYSTEM CO.,LTD 
