Digital Multimedia Technology Co., Ltd. announced that it expects to receive KRW 14 billion in funding from Kanohi Co., Ltd., JDR Asset Co., Ltd. and other investors
December 07, 2016
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Digital Multimedia Technology Co., Ltd. (KOSDAQ:A134580) announced a private placement of 4th unregistered unguaranteed unsecured private convertible bonds for proceeds of KRW 7,000,000,000 and 5th unregistered unguaranteed bonds with non-detachable warrants for proceeds of KRW 7,000,000,000, 2,500,000 common shares at the price of KRW 2,800 per share for gross proceeds of KRW 7,000,000,000 for total gross proceeds of KRW 21,000,000,000 on December 8, 2016. The bonds will be issued at its par value. The 5th series bonds will include participation from JDR Asset Co., Ltd. and Kanohi Co., Ltd. for KRW 3,500,000,000 each. The bonds will mature on February 1, 2020. The bonds will bear a fixed coupon rate of 5% per annum and yield to maturity of 5% per annum. The bonds are convertible into shares of the company at a fixed conversion price of KRW 3,125 per share. The warrants will be exercisable at KRW 3,125 per share from February 1, 2018 to February 1, 2020. The shares would be issued through third party allotment to Double N Co., Ltd. which ahs lock in period of 1 year. The conversion period of the bonds will be from February 1, 2018 to February 1, 2020. The subscription date for the bonds is expected on December 8, 2016. The payment date for the bonds is expected on February 1, 2017. The transaction was approved by the board of directors of the company.
Topco Media Co Ltd is a Korea-based company is a Korea-based company principally engaged in the business of developing and manufacturing satellite broadcasting receivers. The Company mainly produces digital set-top boxes. The products are sold in Korea and exported to North America and Indonesia.
Digital Multimedia Technology Co., Ltd. announced that it expects to receive KRW 14 billion in funding from Kanohi Co., Ltd., JDR Asset Co., Ltd. and other investors