Wooree ETI Co., Ltd. announced that it expects to receive KRW 6 billion in funding from Synergy Partners Co., Ltd. and other investors
July 06, 2017
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Wooree ETI Co., Ltd. (KOSDAQ:A082850) announced a private placement of series 6 unregistered coupon unguaranteed unsecured private convertible bonds for gross proceeds of KRW 6,000,000,000 on July 7, 2017. The company will issue the bonds at its par value. The bonds will not carry any interest coupon and will be carry a yield to maturity of 3% per annum. The bonds will mature on July 11, 2022. The bonds are fully convertible into 3,778,337 common shares of the company at a conversion price of KRW 1,588 per share. The conversion period of the shares will be from July 11, 2018 to June 11, 2022. The transaction will include participation from existing investor, Synergy Partners Co., Ltd. for 4,200,000,000, and other investors, Rico –Synergy Collaboration Multi-Mezzanine Hedge Fund 1 for KRW 900,000,000, Rico - Synergy Collaboration Multi-Mezzanine Hedge Fund 2 for KRW 700,000,000, and Yurie Synergy Mezzanine Hedge Fund for KRW 200,000,000. The subscription date and the payment date for the bonds are expected on July 11, 2017. The transaction was approved by the board of directors of the company.
WOOREE BIO CO., LTD, formerly WOOREEETI CO.,LTD, is a company principally engaged in the manufacturing and sale of light emitting diode (LED) parts and equipment. Along with subsidiaries, the Company operates its business through three segments. The LED segment is mainly engaged in the production and sale of LED parts and equipment including LED packages (PKGs) and light bars. The Metal and Flexible Printed Circuit Board (M, F-PCB) segment is primarily involved in the production and distribution of LED PKGs for lighting applications and FPCBs. The Nanofiber segment manufactures and supplies nanofibers mainly used for functional fabrics. The Company distributes its products within domestic market and to overseas markets.
WOOREE BIO CO.,LTD 
