Chemtronics.Co.,Ltd. announced that it expects to receive KRW 11 billion in funding
December 26, 2017
Share
Chemtronics.Co.,Ltd. (KOSDAQ:A089010) annpunced a private placement of 1,094,963 redeemable convertible preferred shares at a price of KRW 5,023 per share for gross proceeds of KRW 5,499,999,149 and domestic unregistered coupon private convertible bond for gross proceeds of KRW 5,500,000,000; for aggregate gross proceeds of KRW 10,999,999,149 on December 26, 2017.The bond carries a coupon rate of 1% and would mature on January 12, 2024. The bonds are convertible into 952,875 common shares of the company at a rate of KRW 5,772 from January 12, 2019 to December 12, 2023. The transaction will include participation from new investor NH Investment & Securities Co., Ltd., Investment Arm for preferred shares and Axis V2X Private Partnership Corporation for bonds. The preferred shares can be redeemed from December 28, 2020 till December 28, 2023. The conversion period is from December 29, 2018 till December 27, 2023. The company may issue preferred shares on December 28, 2017 in its first tranche close. The transaction is expected to close on January 12, 2018.
CHEMTRONICS CO.,Ltd. is a Korea-based company mainly engaged in the manufacture of printed circuit board assembly (PBA) products. The Company operates its business through two divisions: electronic division and chemical division. Its electronic division manufactures printed circuit board assemblies (PBAs), touch integrated circuit (ICs), electromagnetic compatibility (EMC) materials and others. Its chemical division manufactures electronic chemical solvents, paints, inks, polyvinyl chloride (PVC) stabilizers and others used for photo resist, color filter, stripper, thinner and others of semiconductor, liquid crystal display (LCD) and plasma display panel (PDP), as well as provides LCD and organic light emitting diode (OLED) thin glass slimming services.