TS Nexgen Co., Ltd. announced that it expects to receive KRW 15 billion in funding from Meritz Securities Co., Ltd.
November 29, 2021
Share
HLB Power Co., Ltd. announced a private placement of series 10 unregistered nonguaranteed coupon unsecured convertible bonds for gross proceeds of KRW 15,000,000,000 on November 30, 2021. The bonds will be issued at its par value. The bonds will carry maturity rate of 3.5% and zero coupon rate. The transaction will include participation from Meritz Securities Co., Ltd. The bonds will mature on December 17, 2024 and are convertible into 9,259,259 common shares at a price of KRW 1,620 per share from December 17, 2022 to December 16, 2024. The payment date for the bonds is expected on December 17, 2021. The transaction was approved by the board of directors of the company. The securities issued are subject to restriction period of one year from issuance.
On May 17, 2022, the company announced that the convertible bonds are 100% convertible into 9,933,774 common shares at a price of KRW 1,510 per share.
On June 17, 2022, the company announced that the convertible bonds are 100% convertible into 11,627,906 common shares at a price of KRW 1,290 per share.
On July 17, 2022, the company announced that the convertible bonds are 100% convertible into 13,043,478 common shares at a price of KRW 1,150 per share.
On September 17, 2022, the company announced that the convertible bonds are 100% convertible into 13,574,660 common shares at a price of KRW 1,105 per share.
On October 17, 2022, the company announced that the convertible bonds are 100% convertible into 15,212,981 common shares at a price of KRW 986.
TS Nexgen Co Ltd, formerly HLB Power Co Ltd, is a Korea-based company principally engaged in the manufacture and sale of electrical equipment. The Company operates its business through five segments. The Damper segment is mainly engaged in the manufacture and sale dampers for ships, power plants and plant industrial facilities. The Busway segment is mainly engaged in the production and sale of busways for the transmission and distribution of production facilities and skyscrapers. The Energy Storage System (ESS) segment is mainly engaged in the manufacture and sale of electrical energy storage systems. The Lifeboat Inspection and After-Sales Service (A/S) segment is mainly engaged in the provision of inspection and after-sales services for lifeboats and others. The Other segment is involved in real estate development.
TS NEXGEN CO., LTD. 
