Thumbage Co., Ltd. announced that it expects to receive KRW 5.5 billion in funding from a group of investors
September 05, 2019
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Thumbage Co., Ltd. (KOSDAQ:A208640) announced a private placement of 3rd series unregistered uncouponed unguaranteed unsecured private convertible bonds for gross proceeds of KRW 5,500,000,000 on September 6, 2019. The transaction will include participation from NH Investment & Securities Co., Ltd., Investment Arm for KRW 2,450,000,000, Shinhan Investment Corp., Investment Arm for KRW 500,000,000, Samsung Securities Co. Ltd., Investment Arm for KRW 550,000,000, Korea Investment & Securities Co., Ltd., Investment Arm for KRW 200,000,000, Mirae Equity Partners Co., Ltd. for KRW 300,000,000, Hanyang Securities Co. Ltd., Investment Arm for KRW 500,000,000, and returning investor Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 1,000,000,000. The bonds will be issued at 0% coupon rate, 0% yield to maturity rate, and will mature on September 10, 2022. The bonds can be 100% converted into 8,540,370 common shares for 7.99% stake in the company at a fixed conversion price of KRW 644 per share. The conversion period is from September 10, 2020 to August 10, 2022. The bonds will be issued at par. The transaction has been approved by the board of directors of the company. The subscription date and the payment date is September 10, 2019.
Thumbage Co., Ltd., formerly KB No.6 Special Purpose Acquisition Company, is a Korea-based company engaged in the development of mobile software. The Companyâs products mainly consist of heroes of darkness and project ark, which can be played in mobile devices.