Globon Co., Ltd. announced that it has received KRW 5 billion in funding from InSung Hitech Co., Ltd.
December 27, 2017
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Globon Co., Ltd. (KOSDAQ:A019660) announced a private placement of unregistered unsecured private convertible bonds for gross proceeds of KRW 5 billion on December 28, 2017. The transaction includes participations from InSung Hitech Co., Ltd. for KRW 2 billion and individual investors, Kwon, Youngchan, Kim, Hyesook and Park, Eunhee for KRW 1 billion each. The maturity date for the bonds is December 28, 2020. The bond's coupon rate is 2% and yield to maturity is 5%. The conversion price is KRW 2,680. The conversion period is from December 28, 2018 to November 28, 2020. Number of stocks pursuant to conversion is 1,865,671 in the transaction. The subscription date for the transaction is December 28, 2017. The transaction got approval from board of directors on December 28, 2017.
GLOBON CO., LTD. is a Korea-based company engaged in cosmetics manufacturing business, as well as semiconductor equipment and handset distribution business. The Company produces cosmetics under the brand name of RUE KWAVE. It also engaged in semiconductor idle equipment and mobile phones distribution, semiconductor modification and improvement, as well as file access block (FAB) dismantling. The Company distributes its products within the domestic market and to overseas markets, including Europe, Asia and United States.
GLOBON CO., LTD. 
