Hansongneotech Co.,Ltd. announced that it expects to receive KRW 1.4 billion in funding
August 09, 2021
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Hansongneotech Co.,Ltd. announced a private placement of 4th series non-guaranteed private equity convertible bonds with bearer type interest part for gross proceeds of KRW 1,400,000,000 on August 10, 2021. The transaction will include participation from Hong, Geun-in for KRW 1,100,000,000 and Go, Yeong-ok for KRW 300,000,000. The bond carries a zero coupon, 2% for yield to maturity and would mature on August 11, 2024. The bonds can be 100% converted into 639,269 common shares for 1.12% stake of the company at a fixed conversion price of KRW 2,190 per share. The conversion period is from August 11, 2022 to July 11, 2024. The transaction is expected to close on August 11, 2021. The transaction has been approved by board of directors of the company. The securities are subject to a lock up period of 1 year.
HANSONGNEOTECH CO.,LTD., formerly Dongbu 3rd Special Purpose Acquisition Co., Ltd., is a Korea-based company principally engaged in the manufacture and sale of equipment which is used for flat panel display (FPD) manufacturing. The Companyâs products profile consists of fine metal mask (FMM) tension machines, support tension machines, laser trimmers, manual repair devices, mask inspection quality control (IQC) devices and pixel positioning accuracy (PPA) inspection machines, among others. These products mainly used for plasma display panels (PDPs), liquid crystal displays (LCDs), active matrix organic light emitting diodes (AMOLEDs) and others. In addition, the Company provides ultrasonic cleaners those are applied to FPD. It distributes its products within domestic market and to overseas markets.
HANSONGNEOTECH CO.,LTD. 
