U.I.Display Co.,Ltd. announced that it expects to receive KRW 1.53 billion in funding
May 05, 2020
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U.I.Display Co.,Ltd. (KOSDAQ:A069330) announced a private placement of series 3 non-guaranteed private equity convertible bonds for gross proceeds of KRW 1,530,000,000 on May 6, 2020. The transaction will include participation from individual investors Lee Seung Seung for KRW 200,000,000, Battery for KRW 150,000,000, Seunghan Han for KRW 150,000,000, Credit exchange, Seonjin Seo, Eunjin Cha, Hsinchu, Jeong Jusik, Shin Dong-kyu each for KRW 100,000,000, Kyungtae Kim for KRW 90,000,000, Heeyeon Jeong and Byungjoo Park for KRW 70,000,000 each, Dong Won Won, Already, Cho Choon Ye each for KRW 50,000,000, Sehyun Hyun for KRW 30,000,000 and Sunyoung Lee for KRW 20,000,000. The bond carry coupon rate of 5% and have interest rate of 5%. The interest will be payable quarterly from August 08, 2020 until May 08, 2023. The bonds will mature on May 8, 2023. The bonds will be 100% converted into 1,450,236 common shares of Yua ID Co., Ltd., representing 12.19% of the total number of shares at a fixed conversion price of KRW 1,055 per share. The conversion period is from May 8, 2021 to April 8, 2023. The payment date of the transaction is May 8, 2020. The transaction has been approved by the board of directors of the company. The securities issued in the transaction are subject to a lock up period of 1 year.
U.I.D CO,Ltd is a Korea-based company engaged in the manufacture of display components. The Company's products consist of indium tin oxide (ITO) coating glasses for super twisted nematic (SNT)/NT liquid crystal displays (LCDs), which are used in cell phones, game machines, portable digital assistants (PDAs) and other electronic products. The Companyâs main customers include LG Chemical, LG Electronics Inc., Samsung Electronics Co., Ltd. and others. The Company distributes its products within domestic market and to overseas markets.
U.I.DISPLAY CO.,LTD. 
