Aprogen, Inc. announced that it expects to receive KRW 20 billion in funding from Woori Technology, Inc.
May 17, 2019
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Aprogen, Inc. announced that it will issue series 3 unsecured private convertible debentures for gross proceeds of KRW 20,000,000,000 in a round of funding on May 17, 2019. The transaction will involve participation from Woori Technology, Inc. (KOSDAQ:A032820) for KRW 10,000,000,000, Lindh distant Asia investments combination 10 unit for KRW 5,000,000,000 and Lindh distant Asia investments combination 12 unit for KRW 5,000,000,000. The debentures carry a maturity interest rate of 5% and debentures date of maturity is May 31, 2024. The debentures are fully convertible into 587,699 common shares with 1.13% stake in the company at a conversion price of KRW 34,031 per share. The conversion period starts from June 1, 2020 and ends on May 30, 2024. The debentures issued in the transaction have a hold period of 1 year from the closing of the transaction. The payment date is May 31, 2019. The transaction has been approved by the board of directors of the company.
Woori Technology Inc. is a Korea-based company engaged in the design and manufacture of nuclear instrumentation and control systems. The Company operates in two business divisions: system division, which designs and produces nuclear control systems, such as plant monitoring systems (PMSs), plant annunciator systems (PASs), seismic monitoring systems (SMSs), loose part monitoring systems (LPMSs) and distributed control systems (DCSs), used in nuclear power plants, as well as new business division, which involves in the trading of multi personal computer (PC) system and mineral resources such as anthracite coals, steam coals and others, as well as provision of childâs crying reason analysis systems. It also involves in the leasing of non-residential buildings.
WOORI TECHNOLOGY, INC. 
