NextEye Co., Ltd. announced that it expects to receive KRW 5 billion in funding from Sangsangin Plus Savings Bank, Investment Arm
November 05, 2020
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NextEye Co., Ltd. (KOSDAQ:A137940) announced a private placement of series 5 unregistered coupon non-guaranteed private convertible bond for an aggregate gross proceeds of KRW 5,000,000,000 on November 5, 2020. The transaction includes participation from Sangsangin Plus Savings Bank, Investment Arm. The bonds carry fixed coupon rate of 1% per annum. The bonds will mature on November 10, 2023. The bonds are fully convertible into 2,597,402 common shares of the company at a conversion price of KRW 1,925 per share. The conversion period starts from November 10, 2021 and ends on October 10, 2023. The transaction is expected to close on November 10, 2020. The transaction has been approved by the board of directors of the company.
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.