MFM KOREA Co., Ltd. announced that it expects to receive KRW 6.5 billion in funding
July 06, 2021
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MFM Korea,Co.,Ltd. announced a private placement of round 6 Non-guaranteed private equity convertible bonds with bearer interest for gross proceeds of KRW 6,500,000,000 on July 6, 2021. Bonds are zero coupon and carry 0% yield to maturity, are issued at par and will mature on July 8, 2026. The debentures will be fully convertible into 1,814,122 common shares for 8.21% stake of the company at a fixed conversion price of KRW 3,583 per share. The conversion period is from July 8, 2022 to June 8, 2026. The transaction will include participation from Daeshin-GBA New Technology Investment Association No.1. The transaction has been approved by the board of directors of the company. The transaction is expected to close on July 8, 2021. Bonds carry a hold period of one year from the date of issue of bonds.
MFM Korea Co Ltd, formerly Shinhan 5th Special Purpose Acquisition Co, is a Korea-based company mainly engaged in the manufacture, import and export of clothing and textiles. The Company manufactures and sells men's, women's, boys' and girls' knitted garments in original equipment manufacturing(OEM)and original design manufacturing(ODM) methods. The Company's products are sold under brands such as Aeropostale, Nautica, Vans, Lacoste, and Forever 21. In addition, the Company sells its products through social media platforms. The Company is also engaged in licensing related business.
MFM KOREA CO., LTD. 
