Philoptics Co., Ltd. announced that it expects to receive KRW 18 billion in funding from Samsung Securities Co. Ltd., Investment Arm
December 02, 2018
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Philoptics Co., Ltd. (KOSDAQ:A161580) announced a private placement of 2nd series unregistered non-coupon unguaranteed private convertible bonds for gross proceeds of KRW 18,000,000,000 on December 3, 2018. The transaction will include participation from AIP Growth Hedge Fund 4, a fund managed by NH securities corporation for KRW 9,000,000,000, SP Mezzanine Hedge Fund 3 and SP KOSDAQ Venture Hedge Fund 1, both funds are managed by Samsung Securities Co. Ltd., Investment Arm for KRW 3,000,000,000 and KRW 2,000,000,000 respectively, InterValue No. 2 Innovative Venture Investment Fund for KRW 1,000,000,000, AIP Growth Hedge Fund 4-1 and AIP Free IPO Public Offering Hedge Fund 1, both funds are managed by NH securities corporation for KRW 1,000,000,000 and KRW 1,000,000,000 respectively, and other investors. The bonds do not carry any coupon and carry yield to maturity is 0%. The bonds will mature on December 10, 2023. The bonds are 100% convertible at fixed conversion price of KRW 8,130 per share into 2,214,019 shares. The conversion period will start on December 10, 2019 and will end on November 10, 2023. The transaction has been approved by the board of directors of the company. The subscription date is December 5, 2018 and the payment date is December 10, 2018.
PHILOPTICS CO.,LTD. is a Korea-based company principally engaged in the manufacture and distribution of organic light emitting diodes (OLED) laser equipment. The OLED laser equipment are used in OLED displaying process, which include laser lift-off machines, cell cutting and shape cutting machines. The Company also has two operating segments. The Secondary Cell Laser Equipment Segment, which is engaged in the production of notching modules. And the Stepper and Other Equipment Segment, which is engaged in the manufacture of exposure machines which are mainly used for printed circuit boards (PCBs) and touch screen panels (TSPs). The Company is also involved in providing the equipment amending service, and the sales of relevant equipment.
PHILOPTICS CO., LTD. 
