GMR Materials Co., Ltd. announced that it expects to receive KRW 9 billion in funding from E&INVESTMENT INC.
September 04, 2018
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GMR Materials Co., Ltd. (KOSDAQ:A032860) announced a private placement of 8th unregistered unguaranteed private convertible bonds for gross proceeds of KRW 9,000,000,000 on September 5, 2018. The bonds being issued are 100% convertible into 10,563,380 shares of the company representing 15.64% of the total shares at a conversion price of KRW 852 per share starting September 6, 2019 till August 6, 2021. The payment date of the transaction is September 6, 2018. The transaction involved participation from LCP-EN Secondary Fund; a fund managed by E&INVESTMENT INC. for KRW 1,000,000,000 and EN-New Technology Business Investment Fund No. 14 for KRW 8,000,000,000. The bonds being issued have a coupon rate of 1% and will mature on September 6, 2021.
Glosfer Labs, Inc., formerly GMR Materials Co., Ltd., is a Korea-based company principally engaged in the iron scraps distribution business. The Company operates its business through two segments. The Metal and Nonmetal Raw Material Recycling Business segment engaged in the distribution of steel scraps used for steelmaking. The segment also builds and operates container shipping systems. The Fire Door Business segment manufactures, sells and constructs fire doors used in power plants, plants, apartments and buildings. The Company sells its products within domestic market and to overseas markets.
THE LAMY CO., LTD. 
