Philoptics Co., Ltd. announced that it expects to receive KRW 25 billion in funding from Shinhan Investment Corp., Samsung Securities Co. Ltd., Investment Arm
February 12, 2020
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Philoptics Co., Ltd. (KOSDAQ:A161580) announced a private placement of 3rd unregistered coupon ungauarnteed private convertible bond for gross proceeds of KRW 25,000,000,000 on February 13, 2020. The transaction will include participation from Samsung Securities Co. Ltd., Investment Arm for gross proceeds of KRW 4,000,000,000, AIP Growth Hedge Fund, a fund managed by Shinhan Investment Corp. for gross proceeds of KRW 16,000,000,000, and Shinhan Investment Corp., in the position of trustee of AIP Free IPO Public offering share Private Venture Investment Trust 3 for gross proceeds of KRW 5,000,000,000. The securities have yiel to maturity of 1%. The maturity date of the bonds is February 17, 2025. The bonds will be 100% converted into 2,000,000 shares at a conversion price of KRW 12,500 per share. The start date of the conversion period is February 17, 2021 and end date is January 17, 2025. The transaction has been approved by the company’s board of directors. The subscription date of securities is February 17, 2020. The company expects to close the transaction on February 17, 2020.
PHILOPTICS CO.,LTD. is a Korea-based company principally engaged in the manufacture and distribution of organic light emitting diodes (OLED) laser equipment. The OLED laser equipment are used in OLED displaying process, which include laser lift-off machines, cell cutting and shape cutting machines. The Company also has two operating segments. The Secondary Cell Laser Equipment Segment, which is engaged in the production of notching modules. And the Stepper and Other Equipment Segment, which is engaged in the manufacture of exposure machines which are mainly used for printed circuit boards (PCBs) and touch screen panels (TSPs). The Company is also involved in providing the equipment amending service, and the sales of relevant equipment.
Philoptics Co., Ltd. announced that it expects to receive KRW 25 billion in funding from Shinhan Investment Corp., Samsung Securities Co. Ltd., Investment Arm