Y2 Solution CO.,LTD announced that it expects to receive KRW 14 billion in funding from Sangsangin Investment & Securities Co.,Ltd., Investment Arm, Sangsangin Savings Bank, Sangsangin Plus Savings Bank Co.,Ltd., and other investors
November 25, 2021
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Y2 Solution CO.,LTD announced a private placement of Round 31 Unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 7,000,000,000 and Round 30 Unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 7,000,000,000; for an aggregate gross proceeds of KRW 14,000,000,000 on November 26, 2021. The transaction will include participation from Sangsangin Savings Bank for round 31 bonds of KRW 6,000,000,000 and round 30 bonds for KRW 2,000,000,000, Sangsangin Investment & Securities Co.,Ltd., Investment Arm for round 30 bonds for KRW 3,000,000,000 and Sangsangin Plus Savings Bank Co.,Ltd. for round 30 bonds for KRW 2,000,000,000. The convertible bonds carry a maturity rate of 4% and interest rate of 2%. The series 31 bonds will mature on January 25, 2025 and are convertible into 10,909,090 shares at a price of KRW 550 per share. The series 30 bonds will mature on December 13, 2024 and are convertible into 12,727,272 shares at a price of KRW 550 per share. The conversion period of series 31 bonds will start from January 25, 2023 and will end on December 25, 2024. The conversion period of series 30 bonds will start from December 13, 2022 and will end on November 13, 2024. The payment date is December 13, 2021. The transaction has been approved by the board of directors. The securities issued will be subject to restriction period of one year from issuance.
Y2 Solution Co Ltd, formerly Yuyang D&U Co Ltd is a Korea-based company mainly engaged in the manufacture and sale of power supply equipment. The Company operates its business through four segments. The Switching Mode Power Supply (SMPS) segment engages in the manufacture and sale of SMPSs for liquid crystal display (LCD), light emitting diode (LED), smart, organic light emitting diode (OLED), and ultra high definition television (UHD TV). The LED segment provides LED lighting products. The Chemical Wholesale segment operates a distribution business that mainly imports petrochemical intermediate raw materials and solvent cleaners from China and Japan, supplies them to demanding enterprises. The Other Business segment is engaged in the development of new biopharmaceuticals, and others.
Y2 Solution CO.,LTD announced that it expects to receive KRW 14 billion in funding from Sangsangin Investment & Securities Co.,Ltd., Investment Arm, Sangsangin Savings Bank, Sangsangin Plus Savings Bank Co.,Ltd., and other investors