Sunny Electronics Corp. announced that it expects to receive KRW 10 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Korea Investment & Securities Co., Ltd., Investment Arm
June 17, 2018
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Sunny Electronics Corp. (KOSE:A004770) announced a private placement of sixth unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 10,000,000,000 on June 18, 2018. The bonds will be issued at its par value. The bonds will mature on June 19, 2023. The bonds carry a yield to maturity of 2.0% and annual coupon of 0%. The bonds can be converted into common shares of the company at 100% conversion rate at a fixed conversion price of KRW 2,755 per share and a conversion period from June 19, 2018 to May 19, 2023. The transaction will involve participation from NH Investment & Securities Co., Ltd., Investment Arm for KRW 3,000,000,000, NH Absolute Return Specialty Investment Type Private Investment Trust No. 1, a fund managed by KB securities corporation for KRW 1,000,000,000, NH Absolute Pre IPO Mezzanine Hedge Fund 1, a fund managed by Samsung Securities Co. Ltd. corporation for KRW 500,000,000, Ace Venture Capital Fund No. 3 for KRW 1,500,000,000, Ace Susung Venture Capital Fund No. 4 for KRW 1,000,000,000, C Square Mezzanine Plus Hedge Fund 4 , a fund managed by NH Investment & Securities Co., Ltd., Investment Arm for KRW 400,000,000, C Square TF Gangnam Mezzanine Plus Hedge Fund 1, a fund managed by NH Investment & Securities Co., Ltd. corporation for KRW 400,000,000, C Square Mezzanine Plus Hedge Fund 11, a fund managed by NH Investment & Securities Co., Ltd., Investment Arm for KRW 300,000,000, C Square Venture Investment Hedge Fund 2, a fund managed by Korea Investment & Securities Co., Ltd., Investment Arm for KRW 800,000,000, C Square Venture Investment Hedge Fund 4, a fund managed by Korea Investment & Securities Co., Ltd., Investment Arm for KRW 800,000,000, and C Square Venture Investment Hedge Fund 6, a fund managed by Mirae Asset treatment corporation for KRW 300,000,000. The transaction has been approved by the board of directors of the company.
SUNNY ELECTRONICS CORP. is a Korea-based company principally engaged in the manufacturing and sale of electronic components. The Company operates in two segments: crystal oscillator segment and communication segment. The crystal oscillator segment produces crystal units, crystal oscillators, voltage-controlled crystal oscillators (VCXOs), temperature compensated crystal oscillators (TCXOs), oven-controlled crystal oscillators (OCXOs), filters and saw devices under the brand name SUNNY used for televisions, computers, communication equipment and others. The communication segment produces multiplexers used for optical transmission devices. It distributes its products within domestic market and to overseas markets.
Sunny Electronics Corp. announced that it expects to receive KRW 10 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Korea Investment & Securities Co., Ltd., Investment Arm