Oceanbridge Co., Ltd announced that it expects to receive KRW 7.5 billion in funding from Mirae Asset Securities Co., Ltd., Investment Arm and other investors
March 30, 2017
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Oceanbridge Co., Ltd (KOSDAQ:A241790) announced a private placement of 3rd series unregistered coupon unguaranteed, and unsecured private convertible bonds for gross proceeds of KRW 7,000,000,000 and 4th series unregistered, unguaranteed and unsecured private convertible bonds for gross proceeds of KRW 500,000,000 for total proceeds of KRW 7,500,000,000 on March 31, 2017. The bonds will mature on April 3, 2020 and will be issued at par. The bonds do not carry any annual coupon and have yield to maturity of 1.5%. The bonds are fully convertible at 100% conversion rate into common shares of the company at a fixed conversion price of KRW 10,250 per share from March 31, 2017 to April 3, 2017. The fourth series bond will by Mirae Asset Securities Co., Ltd., Investment Arm which will invest through its fund DS Bok Hedge Fund. The 3rd series bonds will be subscribed by Fund 5, Fund 6, and Fund 7 for KRW 500,000,000, KRW 500,000,000, and KRW 6,000,000,000 respectively.
TEMC CNS Co Ltd, formerly OceanBridge Co Ltd, is a Korea-based company mainly engaged in manufacture of semiconductor chemical and semiconductor equipment. The Company operates its business through three segments. The Equipment segment is engaged in the manufacture and sale of semiconductor equipment and secondary battery equipment. The Chemical (Special Gas) segment is engaged in chemical products used in semiconductor manufacturing processes. The Parts and Others segment is engaged in the manufacture and sale of semiconductor parts.
Oceanbridge Co., Ltd announced that it expects to receive KRW 7.5 billion in funding from Mirae Asset Securities Co., Ltd., Investment Arm and other investors