Philosys Co., Ltd. announced that it has received KRW 5 billion in funding from Syswork Co., Ltd
January 14, 2021
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Philosys Co., Ltd announced that it has issued 19th series non guaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on January 15, 2021. The transaction included participation from new investor Syswork Co., Ltd. The bonds will have coupon rate of 1%, maturity interest rate of 6% and will mature on January 15, 2024. The bonds are 100% convertible into 1,111,111 shares of the company for 3.31% stake in the company at a conversion price of KRW 4,500. The conversion period will start from April 15, 2021 and will end on December 15, 2023. The bonds issued pursuant to the transaction are subject to a hold period of one year. The transaction has been approved by the board of directors the company on November 28, 2019. The transaction has a payment date and subscription date of January 15, 2021.
SYSWORK CO., LTD is a Korea-based company mainly engaged in the production and sale of cleanroom control systems. The cleanroom control systems are the monitoring and control systems of fan filter units (FFUs) and equipment fan filter units (EFUs) used in cleanroom. The main cleanroom control systems include integrated environment monitoring and control systems such as FFU operation, control, and monitoring. The integrated environment monitoring and control systems are to maintain cleanroom environment which is an essential element in the production process of displays and semiconductor lines. The Company also manufactures and sells brushless direct current (BLDC) motors. The BLDC motors are the semi-permanently available motors. The main BLDC motors are outer rotor motors. In addition, the Company also involved of manufacturing and sale of air conditioning controllers.
SYSWORK CO., LTD 