AD Technology Co., Ltd. announced that it expects to receive KRW 6 billion in funding from Korea Investment Management Co., Ltd
October 25, 2016
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AD Technology Co., Ltd. (KOSDAQ:A200710) announced a private placement of second unregistered and unsecured private convertible bonds for gross proceeds of KRW 6,000,000,000 on October 26, 2016. The bonds will be issued at its par value. The transaction will include participation from Korea Investment Growth Company Private Balanced Asset Investment Trust 1, a fund managed by Korea Investment Management Co., Ltd. The bonds will not carry any interest or yield to maturity. The bonds will mature on October 28, 2020. The bonds are fully convertible into registered common shares of the company at a conversion price of KRW 10,905 per share. The conversion period of the bonds will commence on October 28, 2017 and end on September 28, 2020. The subscription date and the payment date for the bonds are expected on October 28, 2016. The transaction was approved by the board of directors of the company.
ADTechnology Co.,Ltd. is a Korea-based company mainly engaged in the design and manufacture of application specific integrated circuits (ASICs) and system on chip (SOC) platforms. The Company also provides displays, mobile phones and others.