SOLiD Gear Pte. Ltd. announced that it expects to receive KRW 10.932 billion in funding from SOLiD, Inc.
SOLiD Gear Pte. Ltd. announced that it will issue 10,000,000 common shares at a price of KRW 1,093.2 per share for gross proceeds of KRW 10,932,000,000 on December 30, 2020. The transaction will include participation from returning investor SOLiD, Inc. (KOSDAQ:A050890). Post closing, the total number of shares of the company will increase to 28,100,000 shares, and the investor will continue to hold 100% stake in the company. The transaction has been approved by the board of directors of the investor, and is expected to close on January 11, 2021.