SOLiD Gear Pte. Ltd. announced that it expects to receive KRW 5.78187 billion in funding from SOLiD, Inc.
March 18, 2019
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SOLiD Gear Pte. Ltd. announced that it will issue 5,100,000 shares at KRW 1,133.70 per share for gross proceeds of KRW 5,781,870,000 on March 19, 2019. The transaction will include participation from existing investor Solid, Inc. (KOSDAQ:A050890). On closing, the investor will retain its 100% stake in the company. On closing, the total number of shares issued will increase from 13,000,000 shares to 18,100,000 shares from 13,000,000 shares. The securities issued are subject to a hold period of six months. The transaction has been approved by board of directors of the investor. The transaction is expected to close on April 1, 2019.
SOLiD, Inc. is a Korea-based company engaged in the manufacture of communication equipment such as wideband code division multiple access (WCDMA) repeaters and long term evolution (LTE) equipment. The Company mainly produces mobile communications equipment, including dual-band category 5 cable (CAT-5) distributed antenna systems (DASs), multi-band fiber-optic DASs, multi-use digital high frequency current (HFC) DASs, interference cancellation systems, digital channel selective repeaters, antenna embedded home repeaters and others. It also produces mobile televisions (TVs) equipment, including in-building fiber-optic DASs, radio frequency (RF) on-channel gap fillers and satellite link gap fillers, as well as wavelength division multiplexing passive optical network (WDM-PON) systems.
SOLID, INC. 
