Smark Co.,Ltd announced that it has received KRW 3 billion in funding from SM Development Corporation
April 24, 2017
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SMARK Co., Ltd. (KOSDAQ:A030270) announced a private placement of 14th unregistered unguaranteed non-detachable private bond with warrants for gross proceeds of KRW 3,000,000,000 on April 25, 2017. The transaction includes participation from new investors SM Development Corporation and R&C Fund for KRW 2,500,000,000 and KRW 500,000,000. The bonds do not carry any coupon and have a yield to maturity of 0%. The warrants are exercisable at KRW 2,085 per share from April 25, 2018 to March 25, 2020. The bonds will mature on April 25, 2020. The subscription and payment date of the bonds is April 25, 2017. 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. 
