Smark Co.,Ltd announced that it has received KRW 2 billion in funding
July 25, 2017
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Smark Co.,Ltd (KOSDAQ:A030270) announced a private placement of series 19th unregistered unguaranteed and unsecured private convertible bonds for gross proceeds of KRW 2,000,000,000 on July 25, 2017. The transaction included participation from Virtus Holdings Co., Ltd. The bonds are issued at par. The bonds issued have a fixed coupon rate of 4% per annum and yield to maturity of 4%. The maturity date of bonds is July 25, 2020. The shares are 100% convertible into 1,199,040 shares at a price of KRW 1,668 per share from July 25, 2017 to July 25, 2018. The transaction has been approved by the board of directors of the company.
The company changed the conversion price of bonds to KRW 858 per share. The company will now issue 2,331,002 shares upon conversion.
SMARK CO., LTD, formerly KAHEE CO., LTD is a Korea-based company engaged in the manufacture and distribution of yarns. The Company produces cotton yarns, combed cotton yarns, blended yarns, slub yarns, core yarns and compact yarns for knitting, weaving and industrial uses. It also provides ring combed cotton yarns, ring slub yarns, stretch core spun yarns and others. The Company operates Gaju mills and Sinni mills with open ended spinners, which are also known as air spinnings, as well as ring spinners. The Company distributes its products within domestic market and to overseas markets.
KAHEE CO., LTD. 
