H Bion Co., Ltd. announced that it expects to receive KRW 25 billion in funding from Homecast Co., Ltd.
April 14, 2014 at 12:00 am EDT
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H Bion Co., Ltd. announced a private placement of 833,334 common shares at KRW 30,000 per share for gross proceeds of KRW 25,000,020,000 with new investor, Homecast Co., Ltd on April 14, 2014. The investor will acquire 22.12% stake of the company through this transaction. The method of investment is third party allocation. The payment date will be April 29, 2014. The board of directors of the company have approved the transaction. The company reported total assets of KRW 1,603,000,000, total liabilities of KRW 4,283,000,000, total negative stockholders' equity of KRW 2,680,000,000, capital of KRW 1,467,000,000, sales revenue of KRW 634,000,000, and net loss of KRW 1,764,000,000 for the year ended December 31, 2013.
On April 28, 2014, the company amended the terms of the transaction. The company will now issue 833,333 shares at KRW 24,999,990,000.
HOMECAST CO.,LTD. is a Korea-based company specialized in the manufacture of set top boxes (STBs). The Company mainly engaged in the provision of digital STBs and STB components. The company provides its products under the brand name of HOMECAST. The Company distributes its products within domestic market and to overseas markets, including India, China, Japan, Middle East, Africa, Europe and Oceania countries.
HOMECAST CO.,LTD. 
