MNtech Co., Ltd. announced that it expects to receive KRW 10 billion in funding from KB Securities Co., Ltd., ESOP, Samsung Securities Co. Ltd., ESOP
September 27, 2022
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MNtech Co., Ltd. announced a private placement of series 7 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 10,000,000,000 on September 28, 2022. The transaction will include participation from KB Securities Co., Ltd., ESOP and Samsung Securities Co. Ltd., ESOP for KRW 5,000,000,000 each.
The series 7 bonds will mature on September 30, 2027. The bonds are fully convertible into 562,904 common shares at a conversion price of KRW 17,765 per share and will be convertible between the period of October 30, 2022 and August 30, 2027. The subscription date and expected date of payment is September 30, 2022.
The transaction has been approved by board of directors of the company.
MNtech Co., Ltd. is a Korea-based company engaged in the manufacture of optical films for display applications. The Company mainly produces optical films, such as prism sheets, lens sheets and others, which are used for liquid crystal display (LCD) back light units (BLUs); touch panels, such as conductive films and touch panels; window films, which are used as window tinting of automobiles and building safety films, and reflective films, which are used for traffic signs, street signs and other safety products. The Company distributes its products within domestic market and to overseas markets, including China, Taiwan, Japan and others.