Woosu AMS Co., Ltd. announced that it expects to receive KRW 15 billion in funding from Sangsangin Investment & Securities Co.,Ltd., Investment Arm
August 07, 2019
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Woosu AMS Co., Ltd. (KOSDAQ:A066590) announced a private placement of 1st series unregistered coupon non-guaranteed private convertible bonds for the gross proceeds of KRW 15,000,000,000 on August 8, 2019. The transaction will include participation from Sangsangin Investment & Securities Co.,Ltd., Investment Arm. The bonds have a coupon rate of 2% and yield to maturity of 3% with the maturity date of August 9, 2022. The bonds are convertible into 4,496,402 common shares at a price of KRW 3,336 per share. The investor will acquire equity stake of 18.21% post conversion of bonds. The bonds have a conversion period from August 9, 2020 to July 9, 2022. The transaction was approved by the board of directors. The transaction is expected to close on August 9, 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. 
