Golfzonnewdin Co., Ltd. announced that it expects to receive KRW 113.99 billion in funding from Korea Gold Infrastructure Investment Co., Ltd.
January 29, 2018
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Golfzonnewdin Co., Ltd. (KOSDAQ:A121440) announced a private placement of 348,627 common shares at price of KRW 262,243 per share for KRW 91,424,728,118 and 8,608 preferred shares at a price of KRW 2,622,430 per share for KRW 22,573,877,440 for total gross proceeds of KRW 113,998,605,558 on January 30, 2018. The shares were issued at a premium. The preferred stock can be convertible into common share. The company issued shares through the third party allotment. The transaction will include participation from Korea Gold Infrastructure Investment Co., Ltd. The transaction was approved by the board of directors of the company. The expected payment date of the transaction is on February 22, 2018.
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.
GOLFZON NEWDIN HOLDINGS CO., LTD. 
