Sang-A Frontec Co.,Ltd. announced that it expects to receive KRW 30 billion in funding from SK Securities Co., Ltd., Investment Arm
September 23, 2020
Share
Sang-A Frontec Co.,Ltd. (KOSDAQ:A089980) announced a private placement of series 3 unsecured private convertible bonds with bearer interest for gross proceeds of KRW 10,000,000,000 and series 4 unsecured private convertible bonds with bearer interest for gross proceeds of KRW 20,000,000,000; for an aggregate gross proceeds of KRW 30,000,000,000 on September 24, 2020. The transaction will include participation from SK Securities Co., Ltd., Investment Arm. The bonds will be issued at par and do not carry any coupon. The series 3 and series 4 bonds have maturity date on May 28, 2023 and September 28, 2025, respectively. The series 4 bonds are redeemable. The series 3 and series 4 bonds will be fully convertible into 223,964 shares and 447,928 shares respectively of the company at a fixed conversion price of KRW 44,650 from September 28, 2021 to April 28, 2023 and September 28, 2021 to August 28, 2025 respectively. The subscription and the payment dates for series 3 and series 4 bonds are September 28, 2020. The transaction has been approved by the board of directors of the company.
SANG-A FRONTEC CO.,LTD is a Korea-based company principally engaged in the manufacture of electronic and industrial components. The Company's product portfolio consists of rechargeable battery components, including insulators, gaskets and others; display components, including flat panel display (FPD) cassettes, polytetrafluoroethylene (PTFE) sheets and others; printer components, including fuser belts, transfer belts, metal belts, phase inverter (PI) tubes and others, as well as panel boxes, panel trays, backup boards, wafer carriers, shipping boxes and others. The Company distributes its products within domestic market and to overseas markets.
SANG-A FRONTEC CO.,LTD. 
