Ace Technologies Corp. announced that it expects to receive KRW 25.000007048 billion in funding from N Global Korea Mezzanine Private Equity Joint Venture, Dominus Investment Co., Ltd.
June 15, 2020
Share
Ace Technologies Corp. (KOSDAQ:A088800) announced a private placement of 3,335,113 convertible preferred shares of face value KRW 500 at an issue price of KRW 7,496 per share for gross proceeds of KRW 25,000,007,048 through third-party allotment on June 16, 2020. The transaction will include participation from N Global Korea Mezzanine Private Equity Joint Venture and Dominus Investment Co., Ltd.. The shares are convertible into 3,335,113 common shares at a conversion price of KRW 7,496 and the conversion period of the shares will start from June 30, 2021 and end on June 30, 2025. The transaction is expected to close on June 30, 2020. The transaction has been approved by the board of directors of the company. All shares issued in the transaction will be subject to a hold period of 1 year.
Ace Technologies Corp. is a Korea-based company mainly engaged in the manufacture of wireless communication equipment. The Company manufactures radio frequency (RF) products, including RF filters, active antenna systems and system components; antennas, which are used for base transceiver stations (BTSs), repeaters, mobile devices and wireless fidelity (WiFi) equipment, and repeaters, including indoor repeaters, outdoor repeaters, RF small repeaters, RF repeaters and others. In addition, the Company provides remote radio heads (RRHs), and automotive antennas and radars. The Company distributes its products within domestic market and to overseas markets.
Ace Technologies Corp. announced that it expects to receive KRW 25.000007048 billion in funding from N Global Korea Mezzanine Private Equity Joint Venture, Dominus Investment Co., Ltd.
ACE TECHNOLOGIES CORP. 
