DAESAN F&B Inc. announced that it expects to receive KRW 2 billion in funding from BFLABS Co.,LTD.
July 20, 2023
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DSEN Inc. announced a private placement of series 7 unsecured privately placed convertible bonds with bearer interest for gross proceeds of KRW 2,000,000,000 on July 20, 2023. The transaction will include participation from returning investor, Citylabs Co.,Ltd. The bonds carry a coupon rate of 3% and yield to maturity rate of 4% maturing on July 21, 2028. The bonds are fully convertible into 5,813,953 common shares at an issue conversion price of KRW 344 per share between the period starting from July 21, 2024 and ending on June 21, 2028.
The securities have a hold period of one year from the date of issuance. The transaction has been approved by board of directors of the company. The expected date of payment is July 21, 2023.
BFLabs Co Ltd, formerly CityLabs Co Ltd, is a Korea-based company mainly engaged in the provision of intelligent transportation system (ITS) solutions. The Company's ITS construction service business and closed circuit television (CCTV) integrated control center business include advanced traffic signal control systems, automatic enforcement systems, road traffic management systems, driver information systems, optimal route guidance systems, travel service information systems, public transportation information provision and public transportation management systems, electronic security systems, common check-in systems, safety security systems, maritime traffic control system establishment, and air traffic control system establishment. The Company combines all of these to conduct smart city construction business. It also engages in multilayer glass production facility manufacturing industry, healthcare media, digital marketing and social networks, and hosting domain services.