DA Technology Co.,Ltd. announced that it expects to receive KRW 12 billion in funding from Baro Savings Bank, Ilkwang Engineering Co., Ltd.
June 29, 2021
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DA Technology Co.,Ltd. announced a private placement of round 8 non-guaranteed private equity convertible bonds with bearer type interest part for gross proceeds of KRW 10,000,000,000 and round 9 non-guaranteed private equity convertible bonds with bearer type interest part for gross proceeds of KRW 2,000,000,000 for aggregate gross proceeds of KRW 12,000,000,000 on June 30, 2021. The bonds will be issued at its par value. The round 8 and 9 bonds will carry 1% interest coupon and yield to maturity of 5% and 1% interest coupon and yield to maturity of 4%, respectively. The round 8 bonds will mature on July 7, 2024 and the round 9 bonds will mature on July 5, 2024. The round 8 bonds are fully convertible into 1,679,825 common shares and the round 9 bonds are fully convertible into 335,965 common shares at an exercise price of KRW 5,953 per share. The conversion period of the round 8 and 9 bonds is from July 7, 2022 to June 7, 2024 and from July 05, 2022 to June 05, 2024, respectively. The round 8 bonds will include participation from Baro Savings Bank and the round 9 bonds will include participation from Ilkwang Engineering Co., Ltd. The payment date of the round 8 bonds is July 7, 2021 and the round 9 bonds is July 05, 2021. The transaction has been approved by the board of directors of the company. The bonds are subject to a hold period of one year.
DA Technology Co.,Ltd. is a Korea-based company mainly engaged in the manufacture and distribution of secondary batteries equipment. The Companyâs main products consist of secondary batteries equipment, such as notching types and folding types, flat panel display (FPD) testing equipment, cup vacuum molding presses, and others. The Company distributes its products within domestic market and to overseas markets.