CNPLUS Co., Ltd. announced that it expects to receive KRW 5 billion in funding from Beone System Co., Ltd. and another investor
August 15, 2022
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CNPLUS Co., Ltd. announced a private placement of series 7 Non-guaranteed Private convertible bonds with Bearer Type Interest Part for a gross proceeds of KRW 5,000,000,000 on August 16, 2022. The bonds carry a fixed coupon of 1% and yield to maturity of 7% per annum. The transaction will include participation from E-Ground Co., Ltd. for KRW 2,000,000,000 and Beone System Co., Ltd. for KRW 3,000,000,000. The bonds will mature on September 23, 2025. The bonds will be 100% converted into 7,299,270 common shares at a fixed conversion price of KRW 685 per share for an equity stake of 10.74%. The conversion period is from September 23, 2023 to August 23, 2025. The payment date of the transaction is September 23, 2022. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.
On October 19, 2022, the company announced that it has extended the offering period and is expected to close on November 18, 2023. The bonds will mature on November 18, 2025 and the conversion period is from November 18, 2023 to October 18, 2025.
CNPLUS Co., Ltd. is a Korea-based company mainly engaged in the manufacture of connectors. The Company manufactured electrical network and connect devices. It produces high precision connectors, such as top, bottom and double-sided contact connectors, micro fine pitch connectors, and pin connectors used for television modules, liquid crystal displays (LCDs), plasma display panels (PDPs), optical disk drives (ODDs) and others. The Companyâs main clients are Samsung SDI, Samsung Electronics, LG Innotek, HITACHI, Nidec, CHANGHONG, Sony Optiarc and others. The Company distributes its products within domestic market and to overseas markets. On December 26, 2012, the Company sold certain shares of a subsidiary, a Korea-based investment company. After the transaction, it held 40% stake of the Korea-based company.
CNPLUS CO., LTD. 
