STraffic Co., Ltd. announced that it expects to receive KRW 23.5 billion in funding from Kiwoom Securities Co., Ltd., Investment Arm, Shinhan Investment Corp., Investment Arm, IBK Capital Corporation, Shinhan Capital Co., Ltd., and other investors
September 11, 2018
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sTraffic Co., Ltd. (KOSDAQ:A234300) announced a private placement of 2nd series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 23,500,000,000 on September 12, 2018. The transaction will include participation from C Square Venture Capital Hedge Fund 1, C Square Venture Capital Hedge Fund 2, C Square Venture Capital Hedge Fund 3, and C Square Venture Capital Hedge Fund 4 for 6,000,000,000 bonds, Kiwoom Securities Co., Ltd., Investment Arm, Midas Red Horse Multi Strategy Hedge Fund 1, and Shinhan Investment Corp., Investment Arm for 3,000,000,000 bonds each respectively, Shinhan Capital Co., Ltd., ST Capital New Technology Fund 1, Orion KOSDAQ Venture Hedge Fund 10, Orion KOSDAQ Venture Hedge Fund 13, Orion KOSDAQ Venture Hedge Fund 17, C Square Venture Capital Hedge Fund 5, and C Square Venture Capital Hedge Fund 6 for 1,000,000,000 bond each respectively, IBK Capital Corporation for 2,000,000,000 bonds, GVA KOSDAQ Venture Hedge Fund for 300,000,000 bonds, GVA Mezz-V Hedge Fund for 600,000,000 bonds, and GVA Universe Hedge Fund for 1,600,000,000 bonds. The bonds carry no coupon and yield to maturity. The bond would mature on September 19, 2023. The bonds are convertible into common shares of the company at a conversion price of KRW 16,200 per share. The conversion will start on September 19, 2019 and end on August 19, 2023. The transaction is expected to close on September 19, 2018. The transaction has been approved by the board of directors of the company.
STraffic Co,. Ltd is a Korea-based company principally engaged in the development, manufacture, distribution, installation, maintenance and upgrade of related systems. The Company operates its business through two segments. Road Segment is mainly engaged in the development, manufacture, distribution and installation of the toll collection system and intelligent transportation system. The railway segment is engaged in the development, manufacture, distribution and installation of railway signaling and railway communication systems. The Company distributes its products within domestic market and to overseas markets.
STraffic Co., Ltd. announced that it expects to receive KRW 23.5 billion in funding from Kiwoom Securities Co., Ltd., Investment Arm, Shinhan Investment Corp., Investment Arm, IBK Capital Corporation, Shinhan Capital Co., Ltd., and other investors