Vessel Co., Ltd. announced that it expects to receive KRW 4 billion in funding from Samsung Securities Co. Ltd., Investment Arm, NH Investment & Securities Co., Ltd., Investment Arm, and another investor
August 03, 2020
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Vessel Co., Ltd. (KOSDAQ:A177350) announced a private placement of round 3 non-guaranteed private equity convertible bond for gross proceeds of KRW 2,000,000,000 and round 4 non-guaranteed private equity exchange bond for gross proceeds of KRW 2,000,000,000, for total proceeds of KRW 4,000,000,000 on August 4, 2020. The transaction will include participation from NH Investment & Securities Co., Ltd., Investment Arm which will acquire each bond worth KRW 700,000,0000, Eveo Research Co., Ltd. which will acquire each bond worth KRW 500,000,0000, and NH Absolute Return Professional Investment Private Equity Trust No. 1 Trustee on behalf of existing investor Samsung Securities Co. Ltd., Investment Arm will acquire each bond for KRW 800,000,000, The coupon rate and interest rate for both bonds is 0% and bond expiration date would be August 6, 2023. Both bonds will be converted into 577,533 shares at the price of KRW 3,463 per share. The conversion period will start from August 6, 2021 to July 6, 2023 for round 3 non-guaranteed private equity convertible bond and August 7, 2020 to July 6, 2023 for round 4 non-guaranteed private equity exchange bond. The subscription and payment date for both bonds would be August 6, 2020. The transaction has been approved by the board of directors of the company.
VESSEL CO., LTD. is a Korea-based company mainly engaged in the manufacture of flat panel display (FPD) equipment and semiconductor equipment. The Companyâs products include line equipment in liquid crystal display (LCD), LCD in-line block controller (IBC) systems, LCD in-line transfer systems, LCD oven systems, LCD inspection systems, wire cassettes and others. Its LCD oven systems include bake ovens, spacer cure ovens, cooling buffers and others. The Company distributes its products within domestic market and to overseas markets, including China and Taiwan.
Vessel Co., Ltd. announced that it expects to receive KRW 4 billion in funding from Samsung Securities Co. Ltd., Investment Arm, NH Investment & Securities Co., Ltd., Investment Arm, and another investor