Syswork Co., Ltd announced that it expects to receive KRW 5 billion in funding from Baro Savings Bank
November 26, 2020
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Syswork Co., Ltd (KOSDAQ:A269620) announced a private placement of series 4 non-guaranteed private convertible bond for gross proceeds of KRW 5,000,000,000 on November 27, 2020. The transaction will include participation from Baro Savings Bank. The bonds carry 1% coupon rate, 5.5% yield to maturity, will mature on November 30, 2023, and are 100% convertible into 1,507,386 common shares of the company representing 1.98% stake, at a fixed conversion price of KRW 3,317 per share from November 30, 2021 to October 30, 2023. The payment date for the bonds is November 30, 2020. The transaction has been approved by the board of directors of the company.
SYSWORK CO., LTD is a Korea-based company mainly engaged in the production and sale of cleanroom control systems. The cleanroom control systems are the monitoring and control systems of fan filter units (FFUs) and equipment fan filter units (EFUs) used in cleanroom. The main cleanroom control systems include integrated environment monitoring and control systems such as FFU operation, control, and monitoring. The integrated environment monitoring and control systems are to maintain cleanroom environment which is an essential element in the production process of displays and semiconductor lines. The Company also manufactures and sells brushless direct current (BLDC) motors. The BLDC motors are the semi-permanently available motors. The main BLDC motors are outer rotor motors. In addition, the Company also involved of manufacturing and sale of air conditioning controllers.
SYSWORK CO., LTD 
