Orbitech Co., Ltd. announced that it expects to receive KRW 5 billion in funding
August 05, 2021
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Orbitech Co., Ltd. announced a private placement of round 6 unregistered coupon non-guaranteed private convertible bond for gross proceeds of KRW 5,000,000,000 on August 6, 2021. The transaction will include participation from new investor Honors Hedge Fund 52. The bonds will be issued at par, carry surface interest rate 1% per annum, yield to maturity rate of 3%, will mature on August 13, 2024, and are fully convertible into 642,260 shares of the company, at a fixed conversion price of KRW 7,785 per share, from August 13, 2022 to July 13, 2024. The transaction has been approved by the board of directors of the company and is expected to close on August 13, 2021. The bonds carry a hold period of one year.
Orbitech Co., Ltd., formerly Korea NonDestructive Testing Co., Ltd., is Korea-based company engaged in the provision of nondestructive testing (NDT) and other services. The Company operates in four categories of businesses: NDT business, which provides NDT services for gas pipes, oil pipes, power plants, ships, bridges, buildings, vessel and tanks; nuclear energy business, which provides radiation-related services, such as radiation management, radiation protection and decontamination, and wastes management services for facilities and utilities; environment business, which provides process development services and analysis services, such as soil, water and marine waste analysis services, and in-service inspection (ISI) business, which provides ISI services used in nuclear power plant sector.
ORBITECH CO., LTD. 
