Feelingk Co., Ltd announced that it expects to receive KRW 1.999999292 billion in funding
February 04, 2020
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Feelingk Co., Ltd (KOSDAQ:A064800) announced a private placement of 1,483,679 common shares at a price of KRW 1,348 per share for the gross proceeds of KRW 1,999,999,292 on February 5, 2020. The transaction included participation from returning investor Gembags & Kael. The shares are issued by the way of third party allotment. Post the closing of the transaction, the number of shares will increase from 72,111,959 shares to 73,595,638 shares. The shares will carry a face value of KRW 100 per share and will be issued at a premium. The shares have a lock up period of one year from the date of issuance. The transaction is expected to close on February 13, 2020. The scheduled date for listing of the shares is February 26, 2020. The transaction has been approved by the board of directors.
GemVaxLink Co Ltd, formerly Feelingk Co Ltd, is a Korea-based company mainly engaged in the sale of clothing miscellaneous goods. The Company operates its business through two segments. The Overseas Fashion Business segment sells apparel, fashion, miscellaneous goods, and luxury goods. The Wireless Internet Solution Business segment mainly develops wireless Internet solutions such as short message service center (SMSC) and long message service center (LMSC) systems, wireless application protocol (WAP) gateways and multimedia message service center (MMSC) systems, and other wireless Internet solutions such as ring back tone (RBT), unified messaging system (UMS) as well as wireless Internet platforms for interoperability (WIPI) globalization solutions under the brand name of Feelingk. The Company also involves in the management consulting and real estate rental business.
GEMVAXLINK CO., LTD. 
