Sangji Caelum, Inc. announced that it expects to receive KRW 12 billion in funding from Hyupjin Co., Ltd., JOONGANG ADVANCED MATERIALS Co., Ltd
July 19, 2023
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Sangji Caelum, Inc. announced a private placement of 24,000,000 common shares at an issue price of KRW 500 per share for gross proceeds of KRW 12,000,000,000 on July 20, 2023. The transaction will include participation from new investors, Ecclesia Holdings Co. , Ltd. and Axiom Partners Co., Ltd. for 12,000,000 shares each.
The transaction has been approved by board of directors of the company. The transaction is expected to close on September 25, 2023. The securities have a hold period of one year from the date of issuance.
Hyupjin Co Ltd, formerly ACT Co Ltd is a Korea-based company engaged in the manufacture and sale of raw materials of cosmetics. The Company provides bioconversion technology products, encapsulated products, natural extracts, synthetic products and others. Its products include Aquatouch L, which is made of glycerin, dimethicone, water and lecithin; Silkytouch L, which is made of water, dimethicone, glycerin, palmitoyl inulin, behenyl alcohol and 1,2 hexanediol; Phytoact Reliefer, which is made of phaseolus radiates seed extract, avena sativa meal extract, ethyhexylglycerin and others, as well as PhytoAct CosyPlex, Actosome InoCeramide E06, Actosome Retinol850, Actosome Retinal Palmitate, Actostem GinElixir and Actosome Deage, among others. It also provides electronic materials.
HYUPJIN CO., LTD. 
