KOAS Co., Ltd. announced that it expects to receive KRW 40 billion in funding
July 04, 2024
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KOAS Co., Ltd. announced a private placement to issue Zero Coupon Series 4 Bearer Interest Unsecured Non-segregated Private Placement Rights Subordinated Bonds due September 11, 2027 for the gross proceeds of KRW 10,000,000,000 and Zero Coupon Series 3 Bearer Interest Unsecured Private Placement Convertible Bonds due September 11, 2027 for the gross proceeds of KRW 10,000,000,000, Zero Coupon Series 1 Bearer Interest Unsecured Private Placement Convertible Bonds due September 11, 2027 for the gross proceeds of KRW 10,000,000,000 and Zero Coupon Series 2 Bearer Interest Unsecured Private Placement Convertible Bonds due September 11, 2027 for the gross proceeds of KRW 10,000,000,000; aggregate gross proceeds of KRW 40,000,000,000 on July 5, 2024. The transaction will include participation from new investor Baekun Fund. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on September 11, 2024. The bonds are 100% convertible into 2,329,373 shares at a fixed conversion price of KRW 4,293 from September 11, 2025 to August 11, 2027. The bonds bear zero coupon rate and maturity rate and matures on September 11, 2027.
Series 3 bonds - The transaction will include participation from new investor Kim Bok Duk. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on September 11, 2024. The bonds are 100% convertible into 2,329,373 shares at a fixed conversion price of KRW 4,293 from September 11, 2025 to August 11, 2027. The bonds bear zero coupon rate and maturity rate and matures on September 11, 2027.
Series 2 bonds - The transaction will include participation from new investor Dahlia Fund. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on September 11, 2024. The bonds are 100% convertible into 2,329,373 shares at a fixed conversion price of KRW 4,293 from September 11, 2025 to August 11, 2027. The bonds bear zero coupon rate and maturity rate and matures on September 11, 2027.
Series 1 bonds - The transaction will include participation from new investor Minerva Fund. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on September 11, 2024. The bonds are 100% convertible into 2,329,373 shares at a fixed conversion price of KRW 4,293 from September 11, 2025 to August 11, 2027. The bonds bear zero coupon rate and maturity rate and matures on September 11, 2027.
KOAS CO.,LTD is a Korea-based company engaged in the manufacturing and distribution of office furniture. The Company mainly provides desks, drawers, cabinets, chairs, sofas, panels and other related accessories for companies, public institutions, educational institutions, medical institutions, training institutions and resorts. It also provides panel installation and construction services. The Company distributes its products within the domestic market and overseas markets, including Mexico, United Arab Emirates, China and others. Its main clients are LG Group, POSCO Group, Korea Telecom and others.