HANA Micron Inc. announced that it expects to receive KRW 15 billion in funding from Hanyang Securities Co. Ltd., Investment Arm, Susung Asset Management Co., Ltd., and other investors
February 28, 2019
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HANA Micron Inc. (KOSDAQ:A067310) announced a private placement of 8th series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 15,000,000,000 on February 28, 2019. The transaction will include participation from Susung Mezzanine Project P1 Hedge Fund for KRW 9,200,000,000, Susung Multi-Mezzanine P4 Hedge Fund for KRW 1,200,000,000, Susung High Yield P1 Hedge Fund for KRW 1,000,000,000, and other investors. The bonds will carry no coupon and no yield to maturity. The bonds will mature on March 5, 2023. The bonds will be fully convertible into 3,419,972 common shares at a conversion price of KRW 4,386 per share, representing 13.07% stake in the company. The conversion period is from March 5, 2020 to February 5, 2023. The transaction has been approved by the board of directors of the company. The transaction is expected to close on March 5, 2019.
HANA MICRON INC. is a Korea-based company specialized in the semiconductor packaging. The Company provides flip chip ball grid array (FCBGA) packaging, wafer level chip-scale packaging (WLCSP), system in package, multi chip packaging, quad flat no lead (QFN) packaging and others, which are applied in communication equipment, mobile phones, personal digital assistant (PDA) devices, digital cameras, digital video discs (DVDs), moving picture experts group audio layer three (MP3) players, digital televisions (TVs) and others. The Company also provides universal serial bus (USB) flash drives. The Company distributes its products within domestic market and to overseas markets.
HANA Micron Inc. announced that it expects to receive KRW 15 billion in funding from Hanyang Securities Co. Ltd., Investment Arm, Susung Asset Management Co., Ltd., and other investors