[Asia Economy Reporter Hyunseok Yoo] RN Technology announced on the 22nd that it has decided to issue the 4th series of 20 billion KRW worth of bonds with warrants. The funds raised will be used for ongoing research and development, facility investment, and other operating expenses to respond to 5G and new business opportunities.
Anda Asset Management and C Square Asset Management, which participated in the BW issuance, have now made their third investment in RN Technology. The two companies initially participated in the 2nd series convertible bonds worth 6 billion KRW in 2017 and also took part in the 10 billion KRW fundraising in 2019.
RN Technology continues to be recognized for its high future growth potential. As global investment in 5G accelerates, related materials and components businesses are steadily growing, and the secondary battery protection device business is also expected to expand.
In particular, the company explained that this fundraising has many positive aspects in terms of conditions. The convertible bonds are zero-interest, and no refixing is included. The exercise price includes a 10% premium (23,008 KRW) and a 10% call option condition. Recently, cases with premiums are rare, and even when premiums are applied, cases without refixing are uncommon.
An RN Technology official said, "The fundraising conditions are favorable, so we proactively secured funds with a forward-looking perspective," adding, "We will do our best to enhance the company's future value by growing existing businesses and securing new business opportunities."
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