Naintech CO.,LTD announced that it expects to receive KRW 17 billion in funding
January 18, 2021
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Naintech CO.,LTD (KOSDAQ:A267320) announced that it will issue series 2 Non-guaranteed private equity convertible bonds with bearer interest for gross proceeds of KRW 17,000,000,000 on January 19, 2021. The bonds will be issued at par. The transaction will include participation from New Technology Fund. The bonds bears interest rate of 0% per annum. The bonds will mature on January 27, 2026. The bonds are convertible into 2,920,460 common shares at a fixed conversion price of KRW 5,821 per share from January 27, 2022 to December 27, 2025. The date of subscription is January 21, 2021 and expected date of payment is January 27, 2021. The transaction is approved by the board of directors of the company.
NainTech Co Ltd, formerly Kyobo 7 Special Purpose Acquisition Co, is a Korea-based company mainly engaged in the manufacturing of equipment used for secondary battery manufacturing. The Company mainly manufactures laminations, stackings and other equipment used for secondary battery manufacturing as well as wet-stations, logistics transfer equipment and other equipment used for display manufacturing. In addition, the Company manufactures equipment used for semiconductor manufacturing.