Incon Co., Ltd. announced that it has received KRW 2 billion in funding from Mirae Industry CO.,LTD
April 27, 2020
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Incon Co., Ltd. (KOSDAQ:A083640) announced a private placement of round 8 series unguaranteed private convertible bonds for gross proceeds of KRW 2,000,000,000 on April 28, 2020. The bonds will be issued at par value. The transaction will involve participation from new investor, Mirae Industry Co., Ltd. for KRW 2,000,000,000. The bonds will carry a coupon rate of 1%. The bonds will be fully convertible into 1,657,000 shares of the company at a fixed conversion price of KRW 1,207 per share amounting to 2.02% stake in the company between April 28, 2021 and March 28, 2023, and will mature on April 28, 2023. The bonds will be subject to prohibition of conversion for 1 year and can be redeemed before maturity at 100% of the exemption amount. The subscription and payment date is April 28, 2020. The transaction has been approved by the board of directors of the company.
INCON Co., Ltd., formerly Win4Net Co., Ltd. is a Korea-based company specialized in the development and manufacture of digital video recorders (DVRs) used for security area. The Companyâs products consist of standalone DVRs, personal computer (PC)-based DVRs, analog cameras, color box cameras, indoor dome cameras, outdoor micro dome cameras, outdoor dome cameras and others. Its Internet protocol (IP) products include network video recorders (NVRs), video servers, hybrid DVRs, IP cameras and related software. It also provides storages. It distributes its products under the brand names of Netsafe, Trium, Poswatch, Clevo, Netsafe, Wintera and others. The Company distributes its products within domestic market and to overseas markets.