Barunson E&A Corporation announced that it expects to receive KRW 7.4 billion in funding
April 24, 2017
Share
Barunson E&A Corporation (KOSDAQ:A035620) announced a private placement of 18th series unregistered unsecured private convertible bonds for gross proceeds of KRW 4,300,000,000 and 19th series unregistered unsecured private convertible bonds for gross proceeds of KRW 3,100,000,000 for total proceeds of KRW 7,400,000,000 on April 24, 2017. The 18th series unregistered unsecured private convertible bonds involves participation from Winasia VL Private Equity Fund 1. The 18th series unregistered unsecured private convertible bonds are zero coupon, carry a yield to maturity of 4%, and are convertible into shares at a fixed conversion price of KRW 2,795 maturing on April 28, 2021. The 19th series unregistered unsecured private convertible bonds carry a fixed coupon of 2%, a yield to maturity of 4%, and are convertible into shares at a fixed conversion price of KRW 29,500 maturing on April 28, 2022. The conversion ratio is 100%.
Barunson Entertainment & Arts Corporation, formerly Barunson Games Corporation, is a Korea-based company engaged in development and publishing of online games. The Companyâs products include Era of Darkness Last Chaos, full three-dimension massively multiplayer online role-playing game Laghaim, online casual social network game BonoBono Online, and Acheron. It also involves in the provision of Internet services and software consulting services through its affiliates. The Company provides its services within domestic market and to overseas markets including the United States, Germany, Spain, Russia, Turkey, Thailand and others.