NextEye Co., Ltd. announced that it expects to receive KRW 15 billion in funding from JTJ Partners Co., Ltd.
August 25, 2020
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NextEye Co., Ltd. (KOSDAQ:A137940) announced a private placement of 4th privately held convertible bonds with interest for gross proceeds of KRW 15,000,000,000 on August 25, 2020. The transaction includes participation from new investor, JTJ Partners Co., Ltd. The bonds carry coupon rate of 1% per annum and yield to maturity of 3.5%. The bonds have maturity date of October 6, 2023. The bonds are convertible into 10,135,135 common shares of the company at a fixed conversion price of KRW 1,480 per share for a period from October 7, 2021 to September 6, 2023. The bonds are redeemable in nature. The transaction was approved by the board of directors of the company. The subscription date is August 25, 2020, and payment date is October 6, 2020.
NextEye Co., Ltd. is a Korea-based company principally engaged in the manufacture and sale of inspection equipment. The Company manufactures liquid crystal display (LCD) visual inspection equipment including LCD film inspection equipment, LCD glass breakage inspection equipment, three dimensional (3D) measuring equipment and others. The Company also produces x-ray inspection equipment, frame grabbers and others. In addition, the Company is engaged in the cosmetics wholesale and retail business. The Company sells its products within domestic market and to overseas markets.