EXT Co.,Ltd. announced that it expects to receive KRW 25 billion in funding from Meritz Securities Co., Ltd., Investment Arm
February 16, 2021
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EXT Co.,Ltd. (KOSDAQ:A226360) announced a private placement of round 10 non-guaranteed private equity convertible bonds with bearer interest for gross proceeds of KRW 25,000,000,000 on February 17, 2021. The transaction will include participation from returning investor, Meritz Securities Co., Ltd., Investment Arm. The bonds are issued at 3.5% coupon rate, 5% yield to maturity, and will mature on February 25, 2024. The bonds are fully convertible into 9,716,284 common shares of the company, representing 15.17% stake, at a conversion price of KRW 2,573 per share. The conversion period is from February 26, 2022 to February 21, 2024. The subscription date is February 17, 2021 and is expected to close by February 25, 2021. The transaction has been approved by the board of directors of the company.
KH Construction Co Ltd, formerly KH E&T Co Ltd, is a Korea-based company mainly engaged in the construction business. The Company operates its business through four segments. The Construction segment mainly engages in the point foundation (PF), screw anchor pile methods construction business. The Manufacture segment produces Ext-Pile reinforcing plates. The Technical Service segment provides products quality management service, technical consulting service, and others. The Other segment engages in the residential rental business.