Douzone Bizon Co., Ltd. announced that it expects to receive KRW 149.999990077 billion in funding
August 12, 2019
Share
Douzone Bizon Co., Ltd. (KOSE:A012510) announced a private placement of 1,805,293 registered redeemable convertible preferred shares Type 1 at an issue price of KRW 83,089 per share for gross proceeds of KRW 149,999,990,077 on August 13, 2019. The transaction will involve participation from new investors, Shinhan Douzone Wehago 1, Shinhan Douzone Wehago 2 for 722,117 shares each. The securities issued in the transaction have a par value of KRW 500 per share. The redemption period for the securities start from August 21, 2022 and ends on August 21, 2029. The conversion period starts from August 21, 2020 and ends on August 21, 2039. The transaction is expected to close on August 20, 2019. The transaction has been approved by the board of director of the company. The securities are issued at a surcharge of 20%.The securities issued in the transaction have a lock up period of one year, post the closing of the transaction.
Duzon Bizon Co Ltd is a Korea-based company engaged in the provision of customized software and extended solutions for small and medium enterprises. The Company provides enterprise resource planning (ERP) software, such as lite ERP, standard ERP, extended ERP and financial ERP under the brand names of Duzon-iPlus, Duzon ERP-icube, ERP M/U and others, as well as electronic banking software used in u-billings and electronic tax invoices. It is also engaged in the provision of construction-use ERP, security solutions, hardware, telecommunication and mobile related solutions, as well as maintenance services.