Vidente Co., Ltd. announced that it expects to receive KRW 50 billion in funding
July 19, 2021
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Vidente Co., Ltd. announced a private placement of series 17 Unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 50,000,000,000 on July 20, 2021. The transaction included participation from JK Fund. Bonds will carry an interest rate and yield to maturity of 1% each, are issued at par value and will mature on August 31, 2024. The bonds will be convertible into 5,409,499 common shares at a price of KRW 9,243 per share. The conversion period is from August 31, 2022 to July 31, 2024. The transaction has been approved by the board of directors of the company. The transaction is expected to close on August 31, 2021. The bonds are subject to a hold period of one year.
Vidente Co., Ltd., formerly Seven Star Works Co., Ltd., is a Korea-based company mainly engaged in the manufacturing and marketing of high definition (HD) video equipment for digital broadcast. The Companyâs products portfolio consists of viewfinder monitors, color critical liquid crystal display (LCD) monitors, multi-format monitors, quad-screen monitors, digital visual interface (DVI) and high definition multimedia interface (HDMI) monitors, rack monitors, organic light emitting diode (OLED) monitors, three dimensional (3D) monitors, wall monitors and others. The Company distributes its products within domestic market and to overseas markets, including Germany, Russia, India, Egypt and others. In addition, it engages in the real estate rental business.