Development Advance Solution Co.,Ltd. announced that it expects to receive KRW 4.0365 billion in funding
March 29, 2021
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Development Advance Solution Co.,Ltd. (KOSE:A058730) announced a private placement of 900,000 shares at issue price of KRW 4,485 per share for gross proceeds of KRW 4,036,500,000 on March 30, 2021. The transaction will include participation from Development Advance Solution Co.,Ltd. ESOP for 443,554 shares, Tae-yang Yoon for 10,000 shares, Seong-yoon Kim for 2,487 shares, Hyo-hyun Kim for 10,000 shares, Seon-gil Jeong for 8,918 shares, Moon-hwan Gu for 7,000 shares, Geun-joo Choi for 6,688 shares, Jeong-sik Shin for 3,298 shares, Won-sang Lee for 3,000 shares, Seon-woo Jeong and Joon-young Jang for 2,500 shares each, Myeong-gyu Jeong, Chul-Hwan Myung, Ki-san Song, Il-han Kim for 2,229 shares each, Seok-ki Hong and Dong-kook Yoo for 2,000 shares each, Jae-gyu Lee for 200 shares, Young-cheol Jang, Kang-guk Lee, Sun-ran Yang for 100 shares each, Dae-seon Kang for 24,671 shares, Si-in Han for 50,000 shares, Nam-cheol Han for 32,435 shares, returning investor, Hyeok Kang for 10,000 shares, returning investor, Wan-seok Kang for 2,229 shares, Jae-hee Nam for 120,149 shares, Won-joo Jeong for 80,267 shares, Jeong-ho Jeon, Jye-gil Gu, Byeong-tak Gong 22,296 shares. The transaction is expected to close on April 12, 2021. The transaction has been approved by the board of directors of the company. The shares to be issued shall have a hold period of one year from the closing of the transaction.
Development Advance Solution Co.,Ltd. is a Korea-based company mainly engaged in the production and sale of road safety facilities. Along with subsidiaries, the Company operates its business through three segments. The Social Overhead Capital (SOC) segment is involved in the manufacturing and sale of road safety facilities. The road safety facilities include general guard rails, high specification guard rails, rigid differential guard rails, steel barriers, open protective fences and sound barrier walls, among others. The Building Material Business segment manufactures and sells deck plates and building materials. The New Renewable Energy Business segment operates the solar power generation facilities.