Woosu AMS Co.,Ltd. announced that it expects to receive KRW 27.499997173 billion in funding from Hyundai BS&E Co., Ltd.
August 30, 2020
Share
Woosu AMS Co., Ltd. (KOSDAQ:A066590) announced a private placement of shares and bonds for gross proceeds of KRW 27,499,997,173 on August 31, 2020. The company will issue series 3 unregistered coupon non-guaranteed private convertible bonds for KRW 20,000,000,000. The transaction will include participation from Kairos PEF 1 for KRW 15,000,000,000 and YR Invest Co., Ltd. for KRW 5,000,000,000. The bonds have a coupon rate of 2%, yield to maturity of 3%, and will mature on November 30, 2023. The bonds are fully convertible into 4,571,428 common shares at a price of KRW 4,375 per share, representing 18.29% stake in the company. The bonds have a conversion period from November 30, 2021 to October 31, 2023. Interest payment will take place every three months or quarterly starting from February 28, 2021 and ending on November 30, 2023. The company will also issue 1,989,917 common shares at a price of KRW 3,769 per share for KRW 7,499,997,173 from Kobit Partners Co., Ltd. The transaction was approved by the board of directors. The transaction is expected to close on November 30, 2020. The shares issued are subject to a hold period of 1 year from the date of issuance.
WOOSU AMS CO.,LTD. is a Korea-based company engaged in the manufacture of automobile parts. The Company produces two categories of products: engine parts, including power steering pumps, air compressor assemblies, drive pump assemblies, intake manifolds, adaptor water outlets, cap camshafts, rocker arm shafts assemblies, valve guides and others, and transmission parts, including intermediate plate assemblies, differential case assemblies, transmission cases, clutch housings, control shaft completes, rail shift assemblies, fork shifts, main shafts, parking system sub parts and others. The Company distributes its products within domestic market and to overseas markets.
WOOSU AMS CO.,LTD. 
