PSMC CO., Ltd announced that it expects to receive KRW 20 billion in funding
April 21, 2021
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PSMC CO., Ltd (KOSDAQ:A024850) announced a private placement of round 1 domestic unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 20,000,000,000 on April 21, 2021. The transaction will include participation from Capital from Eclipse Co., Ltd. and Seo Young Ind Co,Ltd. for KRW 10,000,000,000 each. The bonds will carry a coupon rate of 1%, interest to maturity of 3%, and the bonds will mature on April 21, 2024. The bonds will be fully convertible into 11,428,571 common shares, representing 28.55% stake in the company at KRW 1,750 per share. The bonds can be converted from April 21, 2022 to March 21, 2024. The bonds are being issued at par. The transaction has been approved by the board of directors of the company. The bonds will be subject to a hold period of one year. The subscription date is April 23, 2021 and the transaction is expected to close on June 18, 2021.
On June 9, 2021, the company announced that the bonds will now mature on June 18, 2024 and will carry interest to maturity of 2%.
HLB Innovation Co Ltd, formerly PSMC Co Ltd, is a Korea-based company engaged in the manufacture and sale of lead frames which are semiconductor components. The Company operates its business through two segments. The Semiconductor Parts segment is engaged in the manufacture and sale of lead frames. Lead frame is a semiconductor structural material that plays the role of a semiconductor's electrical conductor to support the semiconductor. The Other segment is engaged in the manufactures and sale of products such as electronic parts and molds.
HLB INNOVATION CO.,LTD. 
