Golfzoncounty Co.,Ltd. announced that it expects to receive KRW 103.900489182 billion in funding from GOLFZON NEWDIN HOLDINGS Co., Ltd., Korea Golf Infra Investment, Inc.
March 30, 2021
Share
Golfzoncounty Co.,Ltd. announced a private placement of 207,184 common shares at a price of KRW 482,643 for gross proceeds of KRW 99,995,907,312, and 809 class 1 convertible preferred shares at a price of KRW 4,826,430 for gross proceeds of KRW 3,904,581,870, for aggregate gross proceeds of KRW 103,900,489,182 on March 31, 2021. The transaction will include participation from returning investor GOLFZON NEWDIN HOLDINGS Co., Ltd. (KOSDAQ:A121440) for 103,592 common shares, Korea Golf Infra Investment, Inc. for 809 class 1 convertible preferred shares and 103,592 common shares. The transaction is expected to close by April 19, 2021. The capital increase will be done through acquisition of cash method through third party allocation. The transaction has been approved by the board of directors of the company.
GOLFZON NEWDIN HOLDINGS Co., Ltd., formerly GOLFZONNEWDIN Co., Ltd., is a Korea-based company mainly engaged in the development of golf game software. The Company and its subsidiaries are engaged in the provision of golf simulators, including swing plates, golf simulator online services, online screen golf services, golfzon live managers, as well as operation of golf courses. It also provides simulator maintenance services and distributes golf supplies. The Company provides online services through Golzon.com, which enables customers to watch real-time swing motion videos and ranking information during game rounds, and access to golf column for golf learning articles and event information. It supplies its products within domestic market and to overseas markets.
Golfzoncounty Co.,Ltd. announced that it expects to receive KRW 103.900489182 billion in funding from GOLFZON NEWDIN HOLDINGS Co., Ltd., Korea Golf Infra Investment, Inc.
GOLFZON NEWDIN HOLDINGS CO., LTD. 
