Hanhwa Secures AUS 140 Million Capital Commitment from GEM as Company Seeks to Go Public

MELBOURNE, Australia, May 5 (Bernama-BUSINESS WIRE) — Hanhwa Aus Pty Ltd (“Hanhwa”), A global automotive manufacturer is pleased to announce that it has signed an agreement (“Agreement”) with GEM Global Yield LLC SCS (“GGY”), the Luxembourg based private alternative investment group, to provide Hanhwa with a share subscription facility of up to AUS 140 million for a 36-month term following a public listing. The share subscription facility will allow Hanhwa to draw down funds by issuing shares of common stock to GEM. Hanhwa will control the timing and the maximum size of such drawdowns and has no minimum drawdown obligation. Concurrent with a public listing Hanhwa will issue warrants to GEM to purchase up to 5.2% of the common stock of the company.

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