Smark Co.,Ltd announced that it expects to receive KRW 6.75 billion in funding
July 16, 2018
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Smark Co.,Ltd (KOSDAQ:A030270) announced a private placement of 21st series unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 6,750,000,000 on July 17, 2018. The transaction will include participation from individual investors Jaehyun Lee for proceeds of KRW 3,750,000,000 and Eunsook Park for proceeds of KRW 3,000,000,000. The bonds carry zero coupon rate and yield to maturity of 2%. The bonds are issued at par and will mature on July 18, 2021. The bonds will be fully convertible into common shares of the company at a conversion price of KRW 500 per share from July 18, 2019 to July 18, 2021. The company will issue 13,500,000 shares upon conversion of bonds. The subscription date is July 17, 2018 and payment date is July 18, 2018. The transaction has been approved by the board of directors of the company.
SMARK CO., LTD, formerly KAHEE CO., LTD is a Korea-based company engaged in the manufacture and distribution of yarns. The Company produces cotton yarns, combed cotton yarns, blended yarns, slub yarns, core yarns and compact yarns for knitting, weaving and industrial uses. It also provides ring combed cotton yarns, ring slub yarns, stretch core spun yarns and others. The Company operates Gaju mills and Sinni mills with open ended spinners, which are also known as air spinnings, as well as ring spinners. The Company distributes its products within domestic market and to overseas markets.
KAHEE CO., LTD. 
