Genesem Inc. announced that it expects to receive KRW 5 billion in funding from Meritz Securities Co., Ltd. Investment Arm, Susung Asset Management Co., Ltd.
December 20, 2016
Share
Genesem Inc. (KOSDAQ:A217190) announced a private placement of third series unregistered unsecured unguaranteed convertible bonds for gross proceeds of KRW 5,000,000,000 on December 20, 2016. The transaction includes participation from new investors, Samsung Securities Co. Ltd. for KRW 2,000,000,000, Ace Susung New Technology Fund 1 for KRW 1,000,000,000, Susung Asset Management Co., Ltd. for KRW 500,000,000, Hyundai Securities Co., Ltd. for KRW 500,000,000, and Meritz Securities Co., Ltd. for KRW 1,000,000,000. The bonds carry zero coupon rate and yield to maturity of 2%. The bonds will be convertible at a fixed conversion price of KRW 5,346 per share. The conversion period will be from December 22, 2017 to November 22, 2021. The transaction has been approved by the board of directors of the company.
GENESEM INC. is a Korea-based company mainly engaged in the manufacture of semiconductor equipments. The Company's product portfolio consists of laser marking equipments which used for labeling defective products and marking barcodes, test handler equipments which used for checking the products that packing process are completed, inspection equipments which used for measuring whether the products is qualified, pick and place equipments which used for distinguishing non-defective products and defective products through transferring and auto visual inspection, and other automation equipments. The Company distributes its products within domestic market and to overseas markets including Mexico, Asia and others.
Genesem Inc. announced that it expects to receive KRW 5 billion in funding from Meritz Securities Co., Ltd. Investment Arm, Susung Asset Management Co., Ltd.