IsMedia Co., Ltd. announced that it expects to receive KRW 13.5 billion in funding from Baro Savings Bank, Sangsangin Plus Savings Bank, Investment Arm, Sangsangin Savings Bank, Investment Arm
May 26, 2021
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isMedia Co., Ltd. (KOSDAQ:A181340) announced a private placement of round 2 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 13,500,000,000 on May 26, 2021. The bonds will be issued at par. The transaction will include participation from new investors Baro Savings Bank for KRW 10,000,000,000, Sangsangin Plus Savings Bank, Investment Arm for KRW 2,000,000,000 and Sangsangin Savings Bank, Investment Arm for KRW 1,500,000,000. The bonds will bear fixed interest rate of 1% per annum. The bonds will mature on June 2, 2024. The bonds are convertible into 314,267 common shares, representing the stake of 4.24% in the company at a fixed conversion price of KRW 42,957 per share from June 02, 2022 to May 02, 2024. The date of payment is June 2, 2021. The bonds carry a hold period of one year. The transaction is approved by the board of directors of the company.
On May 31, 2021, the company announced that the bonds will convert into 342,483 shares at a conversion price of KRW 39,418 per share for 4.60% stake in the company.
ismedia Co., Ltd. is a Korea-based company principally engaged in the development, manufacturing and distribution of inspection and assembly equipment for compact camera modules (CCMs) which are embedded with mobile phones. The Company provides mobile camera module testers including active align (AA) machines, focusing machines, color calibration machines and final test machines; automotive camera module testers; device level testers (DLTs); auto handlers and others. The Company distributes its products within domestic market and to overseas markets.
IsMedia Co., Ltd. announced that it expects to receive KRW 13.5 billion in funding from Baro Savings Bank, Sangsangin Plus Savings Bank, Investment Arm, Sangsangin Savings Bank, Investment Arm