SOLiD Gear Pte. Ltd. announced that it has received KRW 11.64 billion in funding from Solid, Inc
December 13, 2016
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SOLiD Gear Pte. Ltd. announced a private placement of 10,000,000 shares at KRW 1,164.3 per share for gross proceeds of KRW 11,643,000,000 on December 14, 2016. The shares were issued through allocation to shareholders method to Solid, Inc. (KOSDAQ:A050890). On closing, the investor will retain its 100% stake in the company. The company issued 3.3333333 new shares for every existing share of the company. On closing, the capital of the company increased to 13,000,000 shares from 3,000,000 shares. The transaction has been approved by board of directors of Solid, Inc., parent of the company. The company reported total assets of KRW 1,739,000,000, total liabilities of KRW 586,000,000, total capital of KRW 1,153,000,000, capital of KRW 1,074,000,000, revenues of KRW 0, and net profit of KRW -13,000,000 for the year ended December 31, 2015.
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. 
