Shin Heung Energy & Electronics Co.,Ltd. announced that it expects to receive KRW 99.9999936 billion in funding from Korea Development Bank, Investment Arm, JKL Partners Inc., DH Investment Co., Ltd.
September 06, 2021
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Shin Heung Energy & Electronics Co.,Ltd. announced a private placement of 1,338,688 convertible preferred stock at a par value of KRW 2,500, at an issue price of 74,700 for gross proceeds of KRW 99,999,993,600 in funding on September 7, 2021. The transaction include participation form JKL Partners Inc for 451,883 shares, STIC Investments, Inc for 451,883 shares, DH Investment Co., Ltd. for 301,054 shares and Korea Development Bank for 133,868 shares. The transaction was approved the board of directors of the company. The securities issued are subjected to one year hold period. The transaction is expected to close on October 14, 2021. The securities are issued through third party allotment.
On September 8, 2021, the company announced that STIC Investments, Inc will not be a investor any more. The transaction include participation form Stick Global Innovation Growth Private Equity Joint Venture for 451,883 shares.
SHIN HEUNG ENERGY & ELECTRONICS CO.,LTD. is a Korea-based company principally engaged in the manufacture and distribution of lithium-ion battery parts. The Companyâs products include medium and large square cap assembly, small round N current interrupt device (CID), medium and large square can, small square cap assembly and battery pack module. The Company distributes its products within domestic market and to overseas markets.
Shin Heung Energy & Electronics Co.,Ltd. announced that it expects to receive KRW 99.9999936 billion in funding from Korea Development Bank, Investment Arm, JKL Partners Inc., DH Investment Co., Ltd.