Kodaco Co., Ltd announced that it expects to receive KRW 10 billion in funding from investors.
April 23, 2018
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Kodaco Co., Ltd (KOSDAQ:A046070) announced a private placement of 13th series unregistered and unsecured unguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on April 23, 2018. The transaction will include participation from Platform Partners Active Mezzanine Hedge Fund 12, Platform Partners Smart Mezzanine 4.0 Hedge Fund 2 and Platform Partners Smart Mezzanine 4.0 Hedge Fund 3 for KRW 2,500,000,000 each and other investors. The bonds will be issued at par and will mature on April 30, 2023. The bonds will have yield to maturity of 0% and a zero coupon rate. The bonds will be 100% convertible into 3,007,515 common shares at a fixed conversion price of KRW 3,325 per share. The conversion period is from April 30, 2019 to March 30, 2023. The transaction is expected to close on April 30, 2018.
KODACO Co., Ltd. is a Korea-based company engaged in the manufacture of automobile components. The Company operates its business through two divisions: automobile components division, which produces engine parts including throttle bodies, water pump housings, cooling fan housings, oil pumps, oil pans, balance shaft housings and others; transmission parts, such as valve bodies, solenoid valve housings, covers, extension housings, pistons and others; steering parts, such as rack housing subassemblies, steering columns, power steering pump bodies and valve housing subassemblies; compressor parts, such as compressor heads and cylinders, as well as other products, such as filter housings, and communications division, which provides wireless fidelity (WiFi) phones.
KODACO CO., LTD 
