Syswork Co., Ltd announced that it expects to receive KRW 20 billion in funding from Sangsangin Savings Bank, Investment Arm, Sangsangin Plus Savings Bank, Investment Arm
April 13, 2021
Share
Syswork Co., Ltd (KOSDAQ:A269620) announced that it will issue series 5 bearer-type interest-bearing private equity convertible bonds for gross proceeds of KRW 20,000,000,000 on April 14, 2021. The bonds will be issued at par. The transaction will include participation from Sangsangin Savings Bank, Investment Arm and Sangsangin Plus Savings Bank, Investment Arm for 10,000,000,000 each respectively. The bonds carry 2% coupon rate, 5.5% yield to maturity. The bonds will mature on April 30, 2024. The bonds are convertible into 8,814,455 common shares at a fixed conversion price of KRW 2,269 per share from April 30, 2022 to March 30, 2024. The date of subscription is April 14, 2021 and expected date of payment is April 30, 2021. The transaction is approved by the board of directors of the company.
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 announced that it expects to receive KRW 20 billion in funding from Sangsangin Savings Bank, Investment Arm, Sangsangin Plus Savings Bank, Investment Arm