FNC ENTERTAINMENT Co., Ltd. announced that it has received KRW 7 billion in funding from KDB Capital Corp., IBK Capital Corporation, Moorim Capital Co., Ltd. and other investors
May 05, 2021
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FNC ENTERTAINMENT Co., Ltd. (KOSDAQ:A173940) announced a private placement of series 2 unregistered coupon nonguaranteed private convertible bond for a gross proceeds of KRW 7,000,000,000 on May 6, 2021. The transaction included participation from KDB Capital Corp. for KRW 3,000,000,000, IBK Capital Corporation for KRW 2,000,000,000, Moorim Capital Co., Ltd for KRW 1,000,000,000, TRS. Inc. for KRW 500,000,000, EVEO Research Co., Ltd. for KRW 500,000,000. The bonds have yield to maturity of 2%. The bonds will mature on May 06, 2026. The bonds will be 100% converted into 1,205,026 common shares at a fixed conversion price of KRW 5,809 per share for an equity stake of 8.39%. The conversion period is from May 06, 2022 to April 06, 2026. The subscription date and the payment date of the transaction is May 6, 2021. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.
FNC ENTERTAINMENT Co., Ltd. is a Korea-based company principally engaged in the entertainment business. The Company operates its business through five divisions: concert division, merchandising division, music division, management division and other business division. Its concert division engages in the planning, production and operation of concerts. Its merchandising division engages in the distribution of souvenirs and accessories about artists. Its music division involves in the planning, production and distribution of phonograph records and provision of sound sources. Its management division involves in the broadcasting, and provision of dramas and advertising services. Its other business division involves in the operation of fan clubs.
FNC ENTERTAINMENT Co., Ltd. announced that it has received KRW 7 billion in funding from KDB Capital Corp., IBK Capital Corporation, Moorim Capital Co., Ltd. and other investors