Softcen Co., Ltd. announced that it expects to receive KRW 6 billion in funding from Korea Investment & Securities Co., Ltd. and other investors
December 20, 2020
Share
Softcen Co., Ltd. (KOSDAQ:A032680) announced private placement of series 8 non-guaranteed private equity convertible bonds for gross proceeds of KRW 6,000,000,000 on December 21, 2020. The transaction will include participation from Landmark Asset Management Co., Ltd. for KRW 1,000,000,000, Focus TF-AP Specialized Investment Type Private Equity Investment Trust No. 1 for KRW 100,000,000, Focus Super Rich Specialized Private Equity Investment Trust No. 4 for KRW 200,000,000, Focus TF-AP at KOSDAQ Venture Private Equity Investment Trust No. 2 for KRW 200,000,000, Focus SY-AP Private Equity Investment Trust No. 1 for KRW 300,000,000, Focus MD-AP KOSDAQ Venture Professional Investment Type Private Equity Investment Trust No. 1 for KRW 200,000,000, funds managed by Korea Investment & Securities Co., Ltd., Profit Holdings Co., Ltd. for KRW 500,000,000, Fortin & Company for KRW 400,000,000, and Chul-ho Jang for KRW 1,000,000,000, Cheol Park for KRW 1,000,000,000, Shin Jaewon for KRW 500,000,000, Lee Kiho for KRW 300,000,000, Kim Dong-seop for KRW 100,000,000, Hyunjung Park for KRW 100,000,000, and Jang Yeonhwa for KRW 100,000,000. The bonds do not carry any interest. The bonds have a yield to maturity of 1% per annum. The bonds will be issued at par and will mature on December 23, 2025. The bonds are 100% convertible into 2,723,558 common shares at a price of KRW 2,203 per share. The conversion period is from December 23, 2021 to November 23, 2025. The expected subscription and payment date is December 23, 2020. The bonds issued cannot be exercised or converted for the period of one year from the date of issuance. The transaction has been approved by the board of directors of the company.
SOFTCEN CO., LTD., formerly BTC KOREA Co.,Ltd., is a Korea-based company mainly engaged in the provision of hardware and software. The Company operates its business through solution, light crystal display (LCD) monitor and light emitting diode (LED) power saving lighting segments. Its solution segment involves in the provision of computers, computer peripherals and software of IBM, T-max and others. Its LCD monitor segment engages in the manufacture of LCD monitors used for computers, video players, gaming devices and other display devices. Its LED power saving lighting segment produces LED lights under the brand name L-STATION, which are used as dimmers and others. It also engages in real estate rental.