Neungyule Education, Inc. announced that it expects to receive KRW 5 billion in funding
February 01, 2018
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Neungyule Education, Inc. (KOSDAQ:A053290) announced a private placement of 1st series unregistered and unsecured private convertible bonds for gross proceeds of KRW 5,000 million on February 1, 2018. The transaction will include participation from new investor, YG-IBKC Edu Contents Value-up Fund. The maturity date of the convertible bonds is February 7, 2023, with zero coupon rate. The convertible bonds are fully convertible into common shares of the company at a price of KRW 4,716 per share. The conversion period of the bonds will be from February 7, 2019 to January 7, 2023. The bonds are convertible into 1,060,220 shares of the company. The yield to maturity is 1%. The payment date for the bonds is expected on February 7, 2018. The transaction was approved by the board of directors of the company.
NE Neungyule, Inc., formerly Neungyule Education, Inc., is a Korea-based company principally engaged in the publishing business. The Company operates its business through two segments. The Publishing Business segment produces English learning books, early childhood textbooks, teaching aids and others. The Service Business segment provides educational services including e-learning, telephone video English, copyright, among others.
NEUNGYULE EDUCATION, INC. 