Toptec Co., Ltd. announced that it expects to receive KRW 10 billion in funding
October 29, 2018
Share
Toptec Co., Ltd. (KOSDAQ:A108230) announced a private placement of 3rd series unregistered convertible bonds for gross proceeds of KRW 10,000,000,000 on October 30, 2018. The transaction will include participation from YOZMA Global Mezzanine Fund 2. The bonds will carry no coupon and yield to maturity is 1%. The maturity date of the bond is November 30, 2021. The bonds are fully convertible into common shares of the company at a conversion price of KRW 12,350 per share. The conversion period is from November 30, 2019 and October 30, 2021. The transaction is expected to close on November 30, 2018. The transaction was approved by the board of director of the company.
TOPTEC Co., Ltd. is a Korea-based company engaged in the manufacture of automated machines. The Company's products consist of display related equipment, including equipment for liquid crystal display (LCD), organic light emitting diode (OLED) and plasma display panel (PDP) manufacturing; equipment for rechargeable battery manufacturing, such as can cap laser welding machines, cap assembly machines and laser welding machines; solar module related equipment, including tabbing and laminating machines; automobile related equipment, including seat auto covering machines and seat assembly in-line systems; equipment for belt manufacturing, including of bias cutting machines, angle cutting machines, v-belt building machines and cross cutting machines; nano-fiber and laser cutting equipment, as well as loaders and unloaders.
TOPTEC CO., LTD 
