Leaders Technology Investment Co., Ltd announced that it expects to receive KRW 2 billion in funding
October 20, 2020
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Leaders Technology Investment Co., Ltd (KOSDAQ:A019570) announced a private placement of 11th unregistered coupon Non-guaranteed private convertible bonds for gross proceeds of KRW 2,000,000,000 on October 21, 2020. The transaction includes participation from National Cultural Foundation. The bonds have a coupon rate of 2%, yield to maturity of 4%, and maturity date of October 23, 2023. The bonds are 100% convertible at a price of KRW 550 per share into 3,636,363 common shares of the company, which represents 4.15% of the total number of shares, for a period from October 23, 2021 to September 23, 2023. The transaction is expected to close on October 23, 2020. The transaction has been approved by the board of directors of the company.
Plutus Investment Co Ltd, formerly Leaders Technology Investment Co Ltd, is a Korea-based company principally engaged in the provision of venture capital investment and financial related services. The Company operates its business through startup and venture investment, corporate restructuring, merger and acquisition (M&A) arbitration and mediation, management consulting as well as investment in small- and medium-sized enterprises. Its investment targets are small- and medium-sized startups and venture companies primarily engaged in information technology (IT), biotechnology, cultural contents, entertainment, game software and others.