SDN Company., Ltd. announced that it expects to receive KRW 8 billion in funding
July 23, 2020
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SDN Company., Ltd. (KOSDAQ:A099220) announced a private placement of series 14 non-guaranteed private convertible bonds for gross proceeds of KRW 8,000,000,000 on July 24, 2020. The transaction will include participation from Naue Partnership Fund. The bonds do not carry any interest. The bonds will expire on July 28, 2025. The bonds are fully convertible into 2,892,263 common shares at a fixed conversion price of KRW 2,766 per share. The conversion period starts from July 28, 2021 and ends on June 28, 2025. The subscription date of the bonds is July 24, 2020. The company expects to close the transaction on July 28, 2020.
SDN Company., Ltd. is a Korea-based company mainly engaged in the solar business and engine and shipbuilding business. The Company operates its business through two divisions: solar division and engine and shipbuilding division. Its solar division is engaged in the manufacture of solar panels, hetero-junction with intrinsic thin layer (HIT) modules, trackers, switchboards, monitoring and control systems, and the engineering of solar power plants. Its engine and shipbuilding business division provides four-stroke outboard motors and related components, which are used in fishing and leisure boats.