Woosu AMS Co.,Ltd. announced that it expects to receive KRW 10 billion in funding
August 15, 2019
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Woosu AMS Co., Ltd. (KOSDAQ:A066590) announced a private placement of 2nd series unregistered coupon non-guaranteed private convertible bonds for the gross proceeds of KRW 10,000,000,000 on August 16, 2019. The transaction will include participation from Jisung Network Co. The bonds have a coupon rate of 2% and yield to maturity of 3% with the maturity date of December 16, 2022. The bonds are convertible into 2,766,251 common shares at a price of KRW 3,615 per share. The investor will acquire equity stake of 11.20% post conversion of bonds. The bonds have a conversion period from December 16, 2020 to November 16, 2022. The transaction was approved by the board of directors. The transaction is expected to close on December 16, 2019.
WOOSU AMS CO.,LTD. is a Korea-based company engaged in the manufacture of automobile parts. The Company produces two categories of products: engine parts, including power steering pumps, air compressor assemblies, drive pump assemblies, intake manifolds, adaptor water outlets, cap camshafts, rocker arm shafts assemblies, valve guides and others, and transmission parts, including intermediate plate assemblies, differential case assemblies, transmission cases, clutch housings, control shaft completes, rail shift assemblies, fork shifts, main shafts, parking system sub parts and others. The Company distributes its products within domestic market and to overseas markets.
WOOSU AMS CO.,LTD. 
