Smark Co.,Ltd announced that it has received KRW 5.65 billion in funding from MetaVista, Inc. another investor
June 07, 2017
Share
Smark Co.,Ltd (KOSDAQ:A030270) announced a private placement of 17th series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 5,650,000,000 on June 8, 2017. The transaction included participation from MetaVista, Inc. for KRW 3,500,000,000 and individual investor Lee Seung Hun for KRW 2,150,000,000. The 17th series bonds are issued at par. The 17th series bonds have fixed coupon rate of 3% per annum and yield to maturity of 3% and have a maturity date of June 8, 2020. The 17th series bonds are 100% convertible into shares at a price of KRW 2,090 per share. The issuance of 17th series bonds 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. 
