KHVATEC Co., Ltd. announced that it expects to receive KRW 17 billion in funding from KB Securities Co., Ltd., Investment Arm, Meritz Securities Co., Ltd., Investment Arm, Altwell Tech Inc., Altwell Inc., Tube Asset Investment Advisory Co.,Ltd., SK Securities Private Equity
November 15, 2018
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KHVATEC Co., Ltd. (KOSDAQ:A060720) announced a private placement of second series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 17,000,000,000 on November 15, 2018. The transaction will include participation from KB Securities Co., Ltd., Investment Arm for KRW 5,000,000,000, Platform Partners Smart Mezzanine 4.0 Hedge Fund 4, Platform Partners Smart Mezzanine 4.0 Hedge Fund 5, The Platform Multi Strategic Hedge Fund 1 for KRW 2,000,000,000, Tiger Mezzanine Hama 001 Hedge Fund, Tiger 5-02 Hedge Fund, Tiger GEAR UP 2 Hedge Fund, Tiger GEAR UP 12 Hedge Fund, Tiger HNW 5-32 Hedge Fund for KRW 1,800,000,000, and other investors. The bonds will not carry coupon rate and yield to maturity. The bonds will issue at par value. The maturity date of bonds is November 19, 2023. The bonds are fully convertible into common shares of the company at a fixed conversion price of KRW 8,814 per share. The conversion period starts from November 19, 2019 to October 19, 2023. The subscription date and payment date is November 19, 2018. The transaction has been approved by the board of directors.
KH VATEC Co., LTD is a Korea-based company principally engaged in the manufacture and sale of aluminum casting products. The Company produces products including aluminum casting, magnesium casting, zinc casting and others. The Company also manufactures flexible printed circuit boards (FPCBs), which are used in mobile phones, as well as light emitting diode (LED) lighting products such as floodlights and street lights, among others.