Smark Co.,Ltd announced that it has received KRW 5.68 billion in funding
May 22, 2017
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Smark Co.,Ltd (KOSDAQ:A030270) announced that it has completed a private placement of 15th series unregistered unguaranteed non-detachable non-convertible bonds for gross proceeds of KRW 5,000,000,000, and 16th series unregistered unguaranteed non-detachable non-convertible bonds for gross proceeds of KRW 680,000,000, for aggregate gross proceeds of KRW 5,680,000,000 on May 23, 2017. The 15th series bonds included participation from individual investors Yeono Lee for KRW 2,000,000,000, Hyunjun Oh for KRW 1,000,000,000, and Sehee jung for KRW 2,000,000,000, and the 16th series bonds included participation from individual investors Youngsook Seo for KRW 380,000,000, and Daewoong Kim for KRW 300,000,000. The bonds are unsecured, bear 0% coupon rate, 0% yield to maturity rate, and will mature on May 23, 2020. The company also issued warrants in the transaction. The warrants issued with 15th series bonds can be exercised into 1,686,340 common shares for 1.94% stake in the company, and the warrants issued with 16th series bonds can be exercised into 229,342 common shares for 0.26% stake in the company. The warrants are exercisable at a price of KRW 2,965 per share from May 23, 2018 to April 23, 2020. 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. 
