Yorkville Advisors, the US based investment manager to a family of funds, has entered into a KRW12bn equity line facility with Yujin Robot.
Under the terms of the facility, Yujin Robot may issue ordinary shares to Yorkville in tranches at prices based on certain criteria at any time over a 24 month period for up to a total of KRW12bn.
The investment was sourced out of Hong Kong and made by YA Global Master SPV, a Yorkville affiliated fund.
Yujin Robot is a Seoul, Korea-based technology company focused on development, manufacture and distribution of robots for residential, industrial and military use, which are sold in Korea and overseas. The company also develops and distributes toy products in Korea.
Yujin Robot intends to use the funds for the working capital and general corporate purposes.
“We are excited about the compelling story of Yujin Robot as it expands its business portfolio of intelligent robots,” says Anthony Chan, managing director and head of Asia at Yorkville HK. “We hope to contribute to the growth of this dynamic company by providing an efficient channel for equity financing and being a capital partner to the company.”
“This financing arrangement with Yorkville will enable Yujin Robot to expand existing robot business and pursue the next stage of growth both in the domestic and overseas markets. We look forward to a very successful relationship with Yorkville Advisors,” adds Kyung-Chul Shin, chief executive officer of Yujin Robot.
