SDN Company Limited announced that it expects to receive KRW 10 billion in funding from Synergy Asset Management Co., Ltd., Golden Bridge Asset Management Co., Ltd., RICO Asset Management Co., Ltd., Susung Asset Management Co., Ltd., GVA Asset Management Co., Ltd. and other investors
August 09, 2017
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SDN Company Limited (KOSDAQ:A099220) announced a private placement of series 9 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on August 10, 2017. The bonds will have a coupon rate of 1% per annum and yield to maturity of 4%. The bonds will mature on August 22, 2021. The bonds are convertible into 5,449,591 registered common shares at a 100% conversion rate at a fixed conversion price of KRW 1,835 per share from August 22, 2018 to July 22, 2021. The shares will represent 12.74% of the total number of shares. The transaction will include participation from Synergy Asset Management Co., Ltd. for KRW 3,200,000,000, Synergy-Hanhwa Mezzanine New Technology Fund 10 for KRW 200,000,000, Synergy-Hanhwa Mezzanine New Technology Fund 11 for KRW 300,000,000, Susung Asset Management Co., Ltd. for KRW 1,000,000,000, Ace Susung New Technology Fund 2 for KRW 1,000,000,000, fund one managed by Golden Bridge Asset Management Co., Ltd. for KRW 1,000,000,000, and fund 2 managed by RICO Asset Management Co., Ltd. for KRW 300,000,000. GVA Saber-G Hedge Fund, GVA Saber-V Hedge Fund, and GVA Fortress-A Hedge Fund, collectively comprising fund three, will subscribe to proceeds of KRW 2,450,000,000, whereas GVA Fortress-V Hedge Fund and GVA Saber-E Hedge Fund, collectively comprising fund four will subscribe to proceeds of KRW 550,000,000. The GVA funds above are managed by GVA Asset Management Corporation. Korea Securities Finance Corporation will act as the trust agent to the fund one managed by Golden Bridge Asset Management Co., Ltd., NH Investment and Securities Co., Ltd. will act as the trust agent to the fund two managed by RICO Asset Management Co., Ltd., Mirae Asset Treatment Corporation will act as the trust agent to the fund three managed by GVA Asset Management Corporation, and Samsung Securities Co. Ltd. Corporation will act as the trust agent to the fund four managed by GVA Asset Management Corporation. The transaction has been approved by the board of directors of the company. The subscription date and payment date of bonds will be August 14, 2017 and August 22, 2017 respectively.
SDN Company., Ltd. is a Korea-based company mainly engaged in the solar business and engine and shipbuilding business. The Company operates its business through two divisions: solar division and engine and shipbuilding division. Its solar division is engaged in the manufacture of solar panels, hetero-junction with intrinsic thin layer (HIT) modules, trackers, switchboards, monitoring and control systems, and the engineering of solar power plants. Its engine and shipbuilding business division provides four-stroke outboard motors and related components, which are used in fishing and leisure boats.
SDN Company Limited announced that it expects to receive KRW 10 billion in funding from Synergy Asset Management Co., Ltd., Golden Bridge Asset Management Co., Ltd., RICO Asset Management Co., Ltd., Susung Asset Management Co., Ltd., GVA Asset Management Co., Ltd. and other investors