Wave Electronics Co., Ltd. announced that it expects to receive KRW 8 billion in funding from Sangsangin Savings Bank, Investment Arm, Sangsangin Plus Savings Bank, Investment Arm
May 06, 2020
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Wave Electronics Co., Ltd. (KOSDAQ:A095270) announced a private placement of round 12 unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 8,000,000,000 on May 7, 2020. The transaction will involve participation from Sangsangin Savings Bank, Investment Arm for KRW 5,000,000,000 and Sangsangin Plus Savings Bank, Investment Arm for KRW 3,000,000,000. The bonds have a fixed coupon rate of 4% and yield to maturity of 6%. The bonds will be issued at par and will mature on May 8, 2023. The bonds are 100% convertible into 682,593 common shares of the company at fixed conversion price of KRW 11,720 per share representing 5.84% stake in the company. The conversion period will start on May 8, 2021 and will end on April 8, 2023. The transaction subscription and payment date is May 8, 2020. The transaction has been approved by the board of directors of the company.
Wave Electronics Co., Ltd. is a Korea-based company engaged in the manufacture of wireless and wired communication equipment. The Companyâs products consist of amplifiers for base stations, such as digital predistortion amplifiers, analog amplifiers and radio frequency (RF) transceiver units; repeater amplifiers, including code division multiple access (CDMA) products, wideband CDMA (WCDAM) products, worldwide interoperability for microwave access (WIMAX) products and digital multimedia broadcasting (DMB) products, and radio frequency (RF) transceiver units, such as radio remote head (RRH) products, which are used for WIAX, CDMA, WCDMA and long term evolution (LTE). On June 12, 2013, the Company merged with its wholly owned subsidiary, engaged in the research and production of repeater parts.
Wave Electronics Co., Ltd. announced that it expects to receive KRW 8 billion in funding from Sangsangin Savings Bank, Investment Arm, Sangsangin Plus Savings Bank, Investment Arm