HDPRO Co., Ltd. announced that it expects to receive KRW 5 billion in funding
December 28, 2017
Share
HDPRO Co., Ltd. (KOSDAQ:A214870) announced a private placement of round 3 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on December 29, 2017. The bonds will be issued at par. The bonds carry coupon rate of 2% and have yield to maturity of 3%. The bonds will mature on January 26, 2020. The bonds are redeemable and fully convertible into 435,919 common shares of the company at a fixed conversion price of KRW 11,470 per conversion share from January 26, 2019 to December 26, 2019. The transaction is expected to close on January 26, 2018. The transaction has been approved by the board of directors of the company. The transaction will include participation from Pamir Co., Ltd.
NewGLab Pharma Co Ltd, formerly NewGLab Co Ltd, is a company mainly engaged in the manufacturing and sale of closed-circuit television (CCTV) cameras. The Company's product portfolio consists of general analog cameras that used for CCTVs, high definition (HD) analog cameras, HD-serial digital interface (SDI) cameras, extend (EX)-SDI cameras, internet protocol (IP) cameras that used for network CCTVs, digital video recorders (DVRs) that used for image storage devices, network video recorders (NVRs) and others. In addition, the Company is involved in the business of 5G smartphone distribution. The Company distributes its products within domestic market and to overseas markets.
NEWGLAB PHARMA CO.,LTD 
