Yorkville Advisors, LLC, the US based investment manager to a family of funds, is pleased to announce that it has entered into a W12 billion (US$10.1 million) Equity Line Facility ("ELF") with Yujin Robot Co., Ltd. Under the terms of the ELF, Yujin Robot may, at its discretion, 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 W12 billion (US$10.1 million). The investment was sourced out of Hong Kong and made by YA Global Master SPV Ltd., 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, a Korea Exchange listed company, intends to utilize 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," said 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," said Kyung-Chul Shin, Chief Executive Officer of Yujin Robot.
Philip Ho, Senior Managing Director and Head of Global Capital Markets for Yorkville added, "We are pleased to make our first investment in Korea, building on the momentum we enjoy in the broader Asian market and globally. We hope to be a long-term capital provider to Yujin Robot as well as other companies in the region."
