Woongjin Thinkbig Co., Ltd. announced that it expects to receive KRW 500 billion in funding from Korea Investment & Securities Co., Ltd., Investment Arm
March 13, 2019
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Woongjin Thinkbig Co., Ltd. (KOSE:A095720) announced a private placement of its 1st and 2nd series registered coupon unguaranteed private convertible bonds for gross proceeds of KRW 500,000,000,000 on March 14, 2019. The transaction will include participation from Korea Investment & Securities Co., Ltd., Investment Arm. Each of the bonds are of par value KRW 250,000,000,000 respectively and will carry a fixed coupon of 1%, yield to maturity of 7%, and will mature on March 22, 2027. The bonds have a conversion ratio of 100% and have a conversion price of KRW 3,840 per share. The 1st series bonds are convertible into 65,104,166 registered common stock and the 2nd series bonds are convertible into 65,104,166 registered convertible and redeemable preferred stock. The conversion period of bonds is from March 23, 2020 to March 21, 2027. The subscription date of both the securities is March 14, 2019 and payment date is March 22, 2019. The board of directors of the company has approved the transaction.
WOONGJIN THINKBIG CO., LTD. is a Korea-based company mainly engaged in the publishing business. The Company mainly operates its business through three main business divisions: education culture business division, which provides home-school materials, including Korean language learning books, math books, Chinese characters learning books and society and science books mainly for elementary school students; future education business division, which provides learning encyclopedias, experiential knowledge picture books, science complete collections, language complete collections, music animations and others, and others business division, which engages in the after school education business, English private educational institute business, and production and development of publications.
Woongjin Thinkbig Co., Ltd. announced that it expects to receive KRW 500 billion in funding from Korea Investment & Securities Co., Ltd., Investment Arm