SL Vionics Co., Ltd. announced that it expects to receive KRW 13 billion in funding from Sangsangin Savings Bank, Investment Arm, Sangsangin Plus Savings Bank, Investment Arm, and another investor
July 27, 2021
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SL Vionics Co., Ltd. announced a private placement of series 7 unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 and series 8 non-guaranteed private equity convertible bonds with bearer interest part for gross proceeds of KRW 3,000,000,000; for aggregate gross proceeds of KRW 13,000,000,000 on July 28, 2021. The series 7 bonds will be subscribed by existing investors Sangsangin Savings Bank, Investment Arm for KRW 5,500,000,000, Sangsangin Plus Savings Bank, Investment Arm for 4,500,000,000 and series 8 bonds will be subscribed by Baytree Co., Ltd. The bonds have a fixed coupon rate of 5% per annum and yield to maturity of 5% and are being issued at par. The bonds will mature on August 2, 2022. The series 7 bonds are convertible into 7,235,890 shares representing 17.5% stake and series 8 bonds are convertible into 2,170,767 shares representing 5.25% stake at a price of KRW 1,382 per share. The conversion period for bonds is from August 2, 2022 to July 2, 2024. The payment date for series 7 bonds is August 2, 2021 and series 8 bonds is August 8, 2021. The transaction has been approved by the board of directors of the company. The securities to be issued in the transaction are subject to one year hold period.
SL Energy Co Ltd, formerly SL Bionics Co Ltd, is a Korea-based company primarily engaged in the manufacture and sale of light emitting diode (LED) chips. The Company operate its business through two segments. The LED Business segment is engaged in the manufacture and sale of products such as flip chips, lateral chips, chip scale packages and metal packages in its portfolio. The products are mainly used in fields including backlight units, lighting, automobiles and ultraviolet sterilization. The Energy Business segment is engaged in the manufacture and sale of eco-friendly fuel oil and by-product fuel oil.
SL Vionics Co., Ltd. announced that it expects to receive KRW 13 billion in funding from Sangsangin Savings Bank, Investment Arm, Sangsangin Plus Savings Bank, Investment Arm, and another investor