Innowireless Co., Ltd. announced that it expects to receive KRW 13 billion in funding
September 19, 2018
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Innowireless Co., Ltd. (KOSDAQ:A073490) announced a private placement of 2nd series unregistered unguaranteed private convertible bond for gross proceeds of KRW 13,000,000,000 on August 27, 2018. The transaction will include participation from KCGI Co., Ltd. The bonds will mature on November 7, 2021. The bonds carry fixed coupon and yield to maturity of 5.5%. The bonds are fully convertible into 566,251 common shares representing 8.62% stake at a fixed conversion price of KRW 22,958 per share between November 7, 2019 and October 7, 2021. The subscription date is September 20, 2018 and payment date is November 7, 2018. The bonds are prohibited from conversion and split for a period of 1 year from issuance. The transaction has been approved by the board of directors.
On November 6, 2018, the company announced that it has changed the conversion price of the transaction to KRW 17,686. The transaction will include participation from KCGI Helios 1st Private Equity Fund. KCGI Co., Ltd. will no longer invest in the transaction.
InnoWireless Co Ltd is a Korea-based company engaged in the manufacture and sale of communication equipment. The Companyâs products consist of testing equipment, including radio network optimization tools, end to end testing equipment for radio network and other related products used to monitor wireless network performance, and measurement equipment, including cellular measurement equipment, such as portable code domain analyzers (PCDAs), wireless broadband (WiBro) signal generators and WiBro signal analyzers, as well as mobile worldwide interoperability for microwave access (WiMax) measurement equipment.
INNOWIRELESS CO., LTD. 
