BYON Co., Ltd. announced that it expects to receive KRW 3 billion in funding from Interwave Co. Ltd.
January 06, 2017
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BYON Co., Ltd. (KOSDAQ:A032980) announced a private placement of 27th series unregistered unsecured private convertible bonds for gross proceeds of KRW 3,000,000,000 on July 18, 2017. The transaction will involve participation from No, Yoonseok for KRW 1,000,000,000, Interwave Co. Ltd. for KRW 1,000,000,000, KNS Investment Co., Ltd. For KRW 500,000,000, Lee, Hanseung for KRW 300,000,000, Hong, Yongjun for KRW 100,000,000, and Park, Mina for KRW 100,000,000. The 27th series unregistered unsecured private convertible bonds will be 100% convertible into common shares at a conversion price of KRW 1,968 from January 25, 2018 to December 25, 2019. The 27th series unregistered unsecured private convertible bonds carry zero coupon rate and has yield to maturity of 3%. The 27th series unregistered unsecured private convertible bonds will mature on January 25, 2020. The transaction has been approved by the board of directors of the company. The transaction will close on January 25, 2017.
On January 2, 2018, the company announced that the bonds will be converted at a fixed price of KRW 1,381 per share.
BYON Co., Ltd., formerly Polyvision Co., Ltd is a Korea-based company primarily engaged in the manufacture and distribution of industrial materials. The Company operates its business through three segments. Its Industrial Material segment manufactures tarpaulins, banner flexes and polyvinyl chloride (PVC) flooring materials, which are used for truck covers, roof covers, billboards, flags, container bags and house decoration tiles. Its Overseas Resources Development segment explores copper and molybdenum. Its Bio Medical segment sells medicines and medical equipment. The Company distributes its products within domestic market and to overseas markets.
BYON CO., LTD. 
