System and Application Technologies Co., Ltd. announced that it has received KRW 9 billion in funding.
November 06, 2014 at 09:30 am IST
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System and Application Technologies Co., Ltd. (KOSDAQ:A060540) announced that it has received KRW 9,000,000,000 in a round of funding on November 6, 2014. The company issued 10th unregistered/unsecured private convertible bonds in the transaction. The bonds bear no interest and carries yield to maturity of 5.90% per annum. The bonds will mature on November 6, 2020. The bonds are 100% convertible into common shares of the company at a fixed conversion price of KRW 1,474 per share. The conversion period is from November 6, 2015 to October 6, 2020. The bonds have lump-sum redemption of principal on maturity date. The transaction involved participation from new investor SHC EN New Technology Business Fund.
On November 6, 2014, System and Application Technologies Co., Ltd. closed the transaction.
System and Application Technologies Co., Ltd. is a Korea-based company mainly engaged in the provision of industrial automation solutions together with its subsidiaries. The Company provides automation software and hardware, engineering services, software upgrade and maintenance services, system management services and consulting services. In addition, it produces control devices for communication equipment, such as code division multiple access (CDMA) repeaters, global system for mobile communication (GSM) repeaters, wideband CDMA (WCDMA) repeaters, wireless broadband (WiBro) repeaters, as well as phase noise detectors (PNDs), CDMA modules and others. It also involves in the building management and leasing business. On August 30, 2013, it acquired a 100% stake of Korea Traffic System Co., Ltd., a manufacturer of road meters.
SYSTEM AND APPLICATION TECHNOLOGIES CO., LTD 