SebitChemCo., Ltd. announced that it expects to receive KRW 17 billion in funding
November 22, 2022
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SebitChemCo., Ltd. announced a private placement of Series 2 unregistered, non-guaranteed, privately placed debentures with warrants for the gross proceeds of KRW 8,500,000,000 on November 23, 2022. The transaction will include participation from Recycling No. 1 New Technology Fund. The transaction has been approved by the board of the directors of the company. The bonds are 100% convertible into 76,992 common shares at a conversion price of KRW 110,400 between the period starting from November 25, 2023 to October 25, 2027 and will mature on November 25, 2027. The transaction is expected to close on November 25, 2022. The bonds are restricted to a holding period of one year.
On the same date, the company also announced a private placement of series 1 bearer type non-interest-bearing non-guaranteed privately placed convertible bonds for gross proceeds of KRW 8,500,000,000 on November 23, 2022. The transaction will include participation from Recycling No. 1 New Technology Fund. The transaction has been approved by the board of the directors of the company. The zero coupon bonds are fully convertible into 76,992 common shares of Savit Chem Co., Ltd. at a conversion price of KRW 110,400 from November 25, 2023 and ending on October 25, 2027 and will mature on November 25, 2027. The bonds will be issued through yearning method. The expected date of payment and subscription is November 25, 2022. The bonds are restricted to a holding period of one year.
On May 2, 2023, the company announced that series 1 debentures are convertible into 82,205 shares at an fixed conversion price of KRW 103,400.
On September 25, 2023, the company announced that the series 2 debentures are convertible into 107,594 shares at a fixed conversion price of KRW 79,000.
Sebitchem Co Ltd is a Korea-based company principally engaged in the manufacture and sale of chemical products. The Company is principally engaged in the manufacture and sale of waste battery recycling products such as nickel cobalt manganese sulfuric acid complex, lithium carbonate, lithium phosphate. The Company is principally engaged in the manufacture and sale of waste acid recycled products such as phosphoric acid, ammonium phosphate, sodium nitrate, acetic acid. In addition, the Company is also engaged in the real estate rental business.