Vessel Co., Ltd. announced that it expects to receive KRW 6.5 billion in funding
July 02, 2023
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Vessel Co., Ltd. announced a private placement of Series 8 Unsecured privately placed convertible bonds with bearer interest for the gross proceeds of KRW 6,500,000,000 on July 3, 2023. The transaction included participation from new investor Withers E&C Co., Ltd. The bonds bear 4% interest rate and 4% yield to to maturity, and is 100% convertible into 1,240,458 common shares at a fixed conversion price of KRW 5,240 from September 21, 2024 to August 21, 2026 and will mature on September 21, 2026. The transaction has been approved by the board of directors of the company and is expected to close on September 21, 2023.
The bonds are restricted to a hold period of one year from the date of issuance.
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. 
