DaeChang Solution Co., Ltd. announced that it expects to receive KRW 15.0405415 billion in funding from Korea Daesung Asset Management, G-Mighty Asset Management Co., Ltd.
April 22, 2018
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DaeChang Solution Co., Ltd. (KOSDAQ:A096350) announced a private placement of 3,082,900 common shares of par value of KRW 500 per share and issue price of KRW 1,635 per share and 2rd series unregistered coupon unsecured convertible bond for KRW 10,000,000,000 for total gross proceeds of KRW 15,040,541,500 on April 23, 2018. The company also issued warrants to purchase 5,333,333 of common shares for a period of end date June 9, 2021. The transaction will include participation from Korea Daesung Asset Management for series 3 convertible bonds and Daesung Capital Management Co., Ltd. for common shares. The transaction will take place through third party allotment. The payment date for common shares is June 26, 2018 and for bond is July 9, 2018. The bonds bear coupon rate of 0%, yield to maturity of 4% and will mature on July 9, 2021. The bonds are convertible into 5,333,333 common shares at a conversion price of KRW 1,875 per share from July 9, 2019 to July 9, 2021. The securities issued will be subject to a hold period of one year. The transaction has been approved by the company’s board of directors on April 23, 2018.
DAECHANG SOLUTION CO., LTD., formerly DAECHANG METAL CO., LTD., is a Korea-based company principally engaged in the manufacture and sale of large engine parts. The Company operates its business through five segments. The Energy Converter Device segment manufactures large engine parts, large generator parts and others. The transportation and Industrial Equipment Part and Material segment produces products such as industrial structural materials, bow and stern materials, special steel ingots, among others. The Resource Mining Equipment segment produces products including mining machinery parts, ore processing plant parts, offshore plant parts and others. The Life Safety Rescue segment manufactures products such as special steel for high-risk materials, high-tech building structures, seismic safety structures and others. The Cryogenic Industry segment manufactures products consisting of cryogenic valves, cryogenic tanks, cryogenic pipes, among others.
DaeChang Solution Co., Ltd. announced that it expects to receive KRW 15.0405415 billion in funding from Korea Daesung Asset Management, G-Mighty Asset Management Co., Ltd.
DAECHANG SOLUTION CO., LTD. 
