TOPTEC Co., Ltd. announced that it has received KRW 10 billion in funding
January 24, 2019
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TOPTEC Co., Ltd. (KOSDAQ:A108230) announced a private placement of series 3 registered unguaranteed unsecured private convertible bond for gross proceeds of KRW 10,000,000,000 on January 25, 2019. The transaction included participation from new investor Solar Partners Co., Ltd. The bonds carry no coupon and yield to maturity is 1%. The bonds will mature on January 24, 2021. The bonds are fully convertible into 909,090 common shares of the company, representing on 2.47% stake in the company at a conversion price of KRW 11,000 per share. The conversion period is from January 25, 2020 to December 25, 2020. The transaction is expected to close on November 30, 2018. The transaction was approved by the board of director of the company.
TOPTEC Co., Ltd. is a Korea-based company engaged in the manufacture of automated machines. The Company's products consist of display related equipment, including equipment for liquid crystal display (LCD), organic light emitting diode (OLED) and plasma display panel (PDP) manufacturing; equipment for rechargeable battery manufacturing, such as can cap laser welding machines, cap assembly machines and laser welding machines; solar module related equipment, including tabbing and laminating machines; automobile related equipment, including seat auto covering machines and seat assembly in-line systems; equipment for belt manufacturing, including of bias cutting machines, angle cutting machines, v-belt building machines and cross cutting machines; nano-fiber and laser cutting equipment, as well as loaders and unloaders.
TOPTEC CO., LTD 
