EWK Inc. announced that it expects to receive KRW 59.99999675 billion in funding
July 28, 2019
Share
EWK Inc. (KOSDAQ:A258610) announced a private placement of series 3 unregistered zero-coupon unguaranteed private convertible bonds for gross proceeds of KRW 50,000,000,000, and 2,061,855 common shares at a price of KRW 4,850 per share for the gross proceeds of KRW 9,999,996,750, for aggregate gross proceeds of KRW 59,999,996,750 on July 29, 2019. The transaction will include participation from Barco Co., Ltd. for common shares, and KNL Corporation Co., Ltd. for bonds. The bonds are 100% convertible into 8,944,543 common shares at a fixed conversion price of KRW 5,590 per share. The bonds will have 0% zero coupon rate, yield to maturity rate of 5% and will mature on December 13, 2022. The conversion period is from December 14, 2020 to November 13, 2022. All common shares to be issued will be subject to a hold period of one year. The common shares transaction is expected to close on September 25, 2019, and the bonds transaction is expected to close on October 29, 2019. The transaction has been approved by the board of directors of the company.
On September 25, 2019, the company has extended the offering period for common shares till October 15, 2019.
Caelum Co Ltd, formerly EWK Inc, is a Korea-based company principally engaged in the manufacture and sale of chemical and liquefied natural gas (LNG) facilities. The Company operates its business through three segments. The Chemical and LNG Facility Business segment is engaged in the manufacture and sale of heat exchangers, air cooled condensers, pressure vessels and others. The Geothermal Power Plant Business segment is engaged in the manufacture and sale of condensers, piping spools, separators and others. The Product Business segment is engaged in the distribution of products within domestic market to overseas markets.
CAELUM CO., LTD. 
