SGA Co,. Ltd announced that it expects to receive KRW 4 billion in funding from Dong Won Fisheries Co., Ltd., Commerce & Consulting International Co., Ltd., incomiz CO.LTD and other investors
November 29, 2021
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SGA Co,. Ltd announced a private placement of round 15 Unregistered non-guaranteed private placement convertible bonds for gross proceeds of KRW 4,000,000,000 on November 30, 2021. The transaction will include participation from Dong Won Fisheries Co., Ltd. for KRW 300,000,000, Commerce & Consulting International Co., Ltd. for KRW 200,000,000, returning investor incomiz CO.LTD for KRW 500,000,000 and 16 individual investors including Kang, Dowon for KRW 200,000,000, Goo, Hye-young for KRW 100,000,000 and Gyobeom Kim for KRW 400,000,000. The bonds are issued at par, are zero coupon bonds with no yield to maturity and will mature on December 2, 2024. The bonds are 100% convertible into 3,720,930 common shares at a conversion price of KRW 1,075 per share from December 2, 2022 to November 2, 2024. The transaction has been approved by the board of directors of the company. The bonds are subject to a hold period of one year. The payment date is on December 2, 2021.
Dong Won Fisheries Co Ltd is a Korea-based company specialized in marine products processing, distribution business. The Company operates its business through three segments. The Marine Products segment mainly provides tunas from its deep-sea fishing. The Marine Products Distribution segment is engaged in the distribution of seafood products. The Grain Manufacturing segment mainly provides breadcrumbs and frozen seafood products. The Company also engages in the rental business. The Company distributes its products within domestic market and to overseas markets.
SGA Co,. Ltd announced that it expects to receive KRW 4 billion in funding from Dong Won Fisheries Co., Ltd., Commerce & Consulting International Co., Ltd., incomiz CO.LTD and other investors