E Investment&Development Co., Ltd. announced that it expects to receive KRW 69.999999566 billion in funding from EHWA Technologies Information Co. Ltd.
June 18, 2021
Share
E Investment&Development Co., Ltd. announced a private placement of series 12 Bearer two parts private convertible bond for gross proceeds of KRW 40,000,000,000 and 62,240,663 common shares at an issue price of KRW 482 per share for gross proceeds of KRW 29,999,999,566 for aggregate gross proceeds of KRW 69,999,999,566 on June 18, 2021. The transaction will include participation from existing investor, EHWA Technologies Information Co. Ltd. The bonds will bear surface interest rate of 1.5% and interest rate to maturity of 3% and will mature on June 22, 2026. The bonds will be fully convertible into 74,349,442 shares of the company at a fixed conversion price of KRW 538 per share, between the period of June 22, 2022 to May 22, 2026. The securities to be issued will have a hold period of one year, post the closing. The shares will be issued at a premium of 10% and through third party allotment method. The expected date of issuance commission of new shares is August 9, 2021. The subscription date and the payment date is June 22, 2021. The transaction has been approved by the board of directors of the company.
On June 21, 2021, the company announced that the bond maturity date is June 22, 2026 and the conversion period starts on june 22, 2022 and ends on May 22, 2026.
EHWA TECHNOLOGIES INFORMATION CO., LTD. is a Korea-based company principally engaged in the provision of power supply equipment. The Company mainly operates in three business divisions: power supply equipment division, which produces uninterruptible power supply (UPS), rectifiers, molded transformers, radio frequency (RF) converters, among others, used in online computers, medical equipment, testing equipment, subway power systems, industrial power transmission systems and others; service and oil fuel distribution division, which involves in the provision of oil money service (OMS), wholesale and retail of oil fuels, and operation of gasoline stations, as well as mobile communication division, which involves in the production of slide hinge modules used for mobile phones, tablet personal computers and computer hardware, and mock-ups used for displays. It also produces earphones. On July 16, 2014, E-Film CO.,LTD acquired a 100% stake in EHWA PARTNERS.
E Investment&Development Co., Ltd. announced that it expects to receive KRW 69.999999566 billion in funding from EHWA Technologies Information Co. Ltd.