Simmtech Holdings Co., Ltd. announced that it expects to receive KRW 28.99999592 billion in funding
July 29, 2021
Share
Simmtech Holdings Co., Ltd. announced a private placement of 10,820,894 class II convertible preferred shares at a par value of KRW 500 each at a price of KRW 2,680 per share for gross proceeds of KRW 28,999,995,920 on July 29, 2021. The transaction will include participation from Fund 1 of Shinhan Asset Management Co., Ltd., Fund 1 of Hana Bank Co. , Ltd. Fund 2 of Shinhan Asset Management Co., Ltd., Fund 2 of Small and Medium Business Bank, and LIGHTMAC PTE. LTD. The shares will bear a dividend rate of 1%. The shares will be convertible into 10,820,894 common shares at a variable conversion price. The conversion period will start from August 07, 2022 and end on August 30, 2031. The expected payment date is August 31, 2021. The transaction has been approved by the board of directors of the company.
SIMMTECH HOLDINGS Co., Ltd., formerly SIMMTECH Co., Ltd., is a Korea-based company engaged in the manufacture of printed circuit boards (PCBs). The Companyâs products mainly consist of main boards and package substrates. Its main boards include memory module PCBs, which are used for desktop personal computers (PCs), notebook PCs, servers and others; mobile phone boards, which are used for mobile phones, mobile Internet devices, navigations and others; solid state drive (SSD) module PCBs, and other multilayer PCBs, among others. Its package substrates are used for integrating semiconductor chips. It also produces build-up PCBs for telecommunication terminal devices, repeaters and Internet devices, as well as burn-in boards (BIBs) used for burn-in tests.
SIMMTECH HOLDINGS CO., LTD. 
