Okins Electronics CO., Ltd. announced that it expects to receive KRW 5.5 billion in funding from Square Asset Management, IBK Securities Co. Ltd., Investment Arm, W Asset Management Co., Ltd., ValueSystem Investment Management Corp. and other investors
September 05, 2018
Share
Okins Electronics CO., Ltd. (KOSDAQ:A080580) announced that it will issue unregistered unguaranteed unsecure private convertible bonds for gross proceeds of KRW 5,500,000,000 on September 5, 2018. The bonds do not carry interest and and would mature on September 7, 2023. The transaction includes participation from IBK Investment Securities Best Champion KOSDAQ Venture Hedge Fund 1, a fund managed by IBK Securities Co. Ltd., Investment Arm, for KRW 1,000,000,000, Value System Zeus Hedge Fund and Value System KOSDAQ Venture FAST Hedge Fund, for KRW 600,000,000, Value System SLOW Hedge Fund, for KRW 400,000,000, Value System Bamboo Hedge Fund, for KRW 300,000,000, funds managed by ValueSystem Investment Management Corp., Mirae Equity - Value System 8th New Technology Fund, for KRW 200,000,000, W500 Hedge Fund, a fund managed by W Asset Management Co., Ltd., for KRW 1,000,000,000, Hands Partners Limited Company, for KRW 1,000,000,000 and C Square Venture Capital Hedge Fund 2 and C Square Venture Capital Hedge Fund 4, funds managed by Square Asset Management, for KRW 1,000,000,000. The maturity date of bonds is September 7, 2023. The bonds are 100% convertible into 1,594,665 common shares representing 25.72% stake at a conversion price of KRW 3,449 per share, from September 7, 2019 and August 7, 2023. The bonds are redeemable and carry advanced redemption right for 100% of face value and sale to claim right for up to 105.829% of face value. The bonds are restricted from conversion and split for one year from issuance. The payment date and subscription date of the transaction is September 7, 2018. The transaction was approved by the board of directors of the company.
OKins Electronics Co.,Ltd is a Korea-based company principally engaged in the manufacturing and distribution of inspection sockets for semiconductors. The Company manufactures and sells burn-in and test sockets (BiTSs), test sockets, spring probes, memory module sockets, semiconductor business units, system business units and others. In addition, the Company provides light emitting diode (LED) tests, package tests, wafer tests and other semiconductor tests. in the mold business and rental business. The Company distributes its products within domestic market and to overseas markets.
Okins Electronics CO., Ltd. announced that it expects to receive KRW 5.5 billion in funding from Square Asset Management, IBK Securities Co. Ltd., Investment Arm, W Asset Management Co., Ltd., ValueSystem Investment Management Corp. and other investors