ASIA SEED Co.,Ltd. announced that it expects to receive KRW 5.999994936 billion in funding from Korea Securities Finance Corporation, Investment Arm
November 27, 2018
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ASIA SEED Co.,Ltd. (KOSDAQ:A154030) announced a private placement of 183,418 convertible preferred shares at a price of KRW 5,452 per share for proceeds of KRW 999,994,936 from new investor Korea Securities Finance Corporation, Investment Arm, and unregistered coupon unguaranteed private convertible bond for proceeds of KRW 5,000,000,000; for gross proceeds of KRW 5,999,994,936 on November 27, 2018. The shares will be issued at a premium. The preferred stock is fully convertible into registered common shares of the company at a fixed conversion price of KRW 5,452 from December 05, 2019 to November 5, 2028. The securities are subject to s hold period of 1 year. The transaction was approved by the board of directors of the company. The transaction is expected to close on December 05, 2018. The bonds will mature on December 5, 2022. The bonds will be 100% convertible at a price of KRW 6,074 per share between December 5, 2019 and November 5, 2022. The transaction will also include participation from A1 A Type Convertible Hedge Fund, A1 B Type Convertible Hedge Fund, A1 Public Stock KOSDAQ Venture Hedge Fund, and other funds backed by Korea Securities Finance Corporation the corporation and other investors.
ASIA SEED Co.,LTD is a Korea-based company mainly engaged in the development, manufacture and sale of seeds and seedlings. The Company provides seeds and seedlings of white cabbages, red cabbages, broccolis, herbs, onions, cucumbers, corns, carrots, radishes, watermelons, tomatoes, hot peppers, eggplants, lettuces, beans, spinaches, shallots, muskmelons, pumpkins, fragrant flowered garlic, functional leafy vegetables as well as edible flowers, among others. In addition, it is involved in the provision of health care food, garden supplies and others. It also provides sprout cultivators. The Company distributes its products within domestic market and to overseas markets.
ASIA SEED CO.,LTD. 