M-Venture Investment Inc. announced that it has received KRW 4 billion in funding from AnaPass Inc., Minkook Savings Bank, Investment Arm, Incomiz Co., Ltd., ASAM Investment Advisory Company Limited, and other investors.
June 09, 2015 at 05:00 am
Share
M-Venture Investment Inc. (KOSDAQ:A019590) announced a private placement of 19th unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 4,000,000,000 on June 9, 2015. AnaPass Inc.; Minkook Savings Bank, Investment Arm; returning investor ASAM Investment Advisory Company Limited; Incomiz Co., Ltd.; and Yang, Doo-Seung, an external director each subscribed bonds for KRW 1,300,000,000; KRW 500,000,000; KRW 200,000,000; KRW 200,000,000; and KRW 200,000,000 respectively. The round included participation from other individual investors. The bonds will be issued at its par value. The bonds will have a fixed interest rate of 5% per annum and yield to maturity of 5%. The bonds will be convertible into common shares of the company at a fixed conversion price of KRW 500 per share at a 100% conversion rate from June 9, 2016 to May 9, 2019. The bonds will be redeemable upon maturity. The bonds will mature on June 9, 2019. The board of directors approved the transaction.
M-VENTURE INVESTMENT, INC. is a Korea-based venture capital firm. The Company provides investment services, including stock subscription, acquisition of convertible bonds or bonds with warrants, as well as project financing services. It also provides consulting services, including start-up-related business consulting and information services, as well as business advice services to start-up founders; research services for the review of business feasibility; setup and operation of a business incubation center; legal advice, tax information and marketing support services to investee companies, and consulting and advice services regarding corporate mergers or acquisitions, sale of assets and divestitures services. In addition, it provides corporate restructuring services.
M-Venture Investment Inc. announced that it has received KRW 4 billion in funding from AnaPass Inc., Minkook Savings Bank, Investment Arm, Incomiz Co., Ltd., ASAM Investment Advisory Company Limited, and other investors.