Dragonfly GF Co., Ltd announced that it expects to receive KRW 5 billion in funding
November 26, 2023
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Dragonfly GF Co., Ltd announced a private placement to issue Series 18 Bearer-Bearing Interest-Bearing Unsecured Convertible Bonds for the gross proceeds of KRW 5,000,000,000 on November 27, 2023. The transaction will include participation from new investor One O One Invest Fund No. 1. The transaction has been approved by the shareholders of the company and is expected to close on February 29, 2024.
The bonds bear 1% interest and 1% maturity rate and matures on February 28, 2027. The bonds are 100% convertible into 6,305,170 shares at a fixed conversion price of KRW 793 from March 1, 2025 to January 29, 2027. The securities are restricted to a hold period of 1 year.
Dragonfly GF Co., Ltd. is a Korea-based company engaged in the development and distribution of game software. The Company develops and distributes online game and computer game software, including first-person shooter (FPS) games, massively multiplayer online role-playing games (MMORPGs), casual games and others, such as Special Force, Soldier of fortune online, Quake Wars online, KARMA and KARMA online, VAAN online, Kingdom under fire online, The tour of duty, Valpurgis night, Anpan man and Anpan man 2 and others. It also provides mobile games, such as Special force net, Special force defence, Speed scandal for Kakao and others. The Company provides online game services within domestic market and to overseas markets, including China, Japan, America, Taiwan, Thailand, Philippines, Vietnam, Europe and others. It also provides Internet-based advertising services.