Jaeyoung Solutec Co., Ltd. announced that it expects to receive KRW 22 billion in funding
March 07, 2021
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Jaeyoung Solutec Co., Ltd. (KOSDAQ:A049630) announced a private placement of 12th registered Korean private convertible bonds without guarantee for gross proceeds of KRW 22,000,000,000 on March 8, 2021. The bonds will be issued at par. The bonds bear coupon at the fixed rate of 2% per annum and interest rate to maturity is 4% per annum. The bonds will mature on March 12, 2026. The bonds are 100% convertible into 23,280,423 common shares at a fixed price of KRW 945 per share from March 12, 2022 to March 11, 2026. The transaction will include sole participation from new investor J&M Moorim Jade New Technology Business Fund. The transaction was approved by the board of directors of the company. The subscription date is March 10, 2021. The transaction is expected to close on March 12, 2021.
JAEYOUNG SOLUTEC CO.,LTD. is a Korea-based company specialized in the provision of electrical parts and moldings. The Company operates in three main business divisions: mold business division, components division and nano-optical business division. Its mold business division engages in the manufacture of plastic injection molds used for automobiles, home appliances, optical devices, engineering components and others. Its components division engages in the manufacture of terminals, electric optical parts and semiconductor test sockets such as ball grid array (BGA) burn-in test sockets. Its nano-optical business division provides aspherical glass lenses and camera lens modules. It also involves in the design business. The Company distributes its products within domestic market and to overseas markets.
Jaeyoung Solutec Co., Ltd. announced that it expects to receive KRW 22 billion in funding
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