EM&I Changes BW Investment Target to Synergy IB2... "First Institutional Fundraising"

Organic Light Emitting Diode (OLED) material company EM&I announced on the 6th that it will change the investor of the 14th series of bonds with warrants (BW) to Synergy IB Investment.

EM&I decided to amend the issuance of the 14th series BW through a board resolution on the same day. The issuance target was changed to Synergy IB Investment, and the coupon rate and maturity interest rate were set at 3% and 5%, respectively. The payment date was moved up from the original November 29 to the 30th of this month.

This change of BW recipient aims to secure funds stably through a new technology investment association in which institutions participate as limited partners (LPs), thereby enhancing market trust. This is the first time EM&I has raised funds from institutional investors.

EM&I recently declared its commitment to becoming a shareholder-friendly company at an extraordinary general meeting and expressed its intention to focus on OLED and the Indian electric vehicle (EV) business.

A company official stated, "We judged that attracting institutional investors was necessary to demonstrate business transparency and future vision," adding, "The investment funds will be used to recruit personnel and expand the local sales network to grow the Indian electric vehicle business."

This content was produced with the assistance of AI translation services.