Skymoons Technology, Inc. announced that it expects to receive KRW 20 billion in funding from Earn Wide International Limited, Fast Cheer Investment Limited, Soul Bay Korea CO., Ltd.
March 02, 2017
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Seohwa Telecom Co. (KOSDAQ:A033790) announced a private placement of first series unregistered and unsecured private bonds with warrants and first series unregistered and unsecured private convertible bonds for gross proceeds of KRW 20,000,000,000 on March 3, 2017. The company will issue the first series unregistered and unsecured private bonds with warrants for proceeds of KRW 10,000,000,000 and first series unregistered and unsecured private convertible bonds for KRW 10,000,000,000 each. The bonds will carry an interest coupon of 2% per annum and a yield to maturity of 5%. The bonds will mature on May 16, 2019. The convertible bonds will be fully convertible into common shares of the company at a conversion price of KRW 4,345 per share. The warrants issued as part of the transaction are also exercisable into shares at KRW 4,345 per share. The first series unregistered and unsecured private convertible bonds will be subscribed by new investors Earn Wide International Limited for KRW 5,600,000,000 and Fast Cheer Investment Limited for KRW 4,400,000,000. The first series unregistered and unsecured private bonds with warrants will be subscribed by new investors Huayi Investment Co., Ltd. for KRW 5,000,000,000, HnAP Fund 2 for KRW 2,000,000,000, Soul Bay Korea Co., Ltd. for KRW 2,000,000,000, and Midong & Cinema Co., Ltd. (KOSDAQ:A161570) for KRW 1,000,000,000.
Skymoons Technology, Inc., formerly Seohwa, Inc., is a Korea-based company engaged in the manufacturing of communications equipment. The Companyâs products portfolio consists of communication repeaters, such as code division multiple access (CDMA) repeaters, wideband CDMA (WCDMA) repeaters, wireless broadband (WiBro) repeaters, dual band repeaters, triple band repeaters, satellite digital multimedia broadcasting repeaters, in-home patch repeaters and others used to improve speech quality; information technology (IT) products, including notebooks, projectors, media players, wireless fidelity (WiFi) phones, as well as other products, such as light panels. The Company also involves in the provision of repeaters maintenance services.
Skymoons Technology, Inc. announced that it expects to receive KRW 20 billion in funding from Earn Wide International Limited, Fast Cheer Investment Limited, Soul Bay Korea CO., Ltd.
SKYMOONS TECHNOLOGY, INC. 
