INZI Controls Alabama Inc. announced that it expects to receive $9.5 million in funding from INZI Controls Co.,Ltd.
August 18, 2016
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INZI Controls Alabama Inc. announced a private placement of 950,000 common shares at $10 per share for gross proceeds of $9,500,000 from existing investor INZI Controls Co., Ltd. (KOSE:A023800) on August 19, 2016. Post the closing, the investor will hold 91.74% stake in the company, for a total of 1,422,000 common shares in the company. The transaction has been approved by the board of directors of the investor.The transaction is expected to close on August 23, 2016. The company reported total assets of KRW 26,070,655,964, total liabilities of KRW 36,420,632,500, shareholders’ equity of KRW -10,349,976,536, revenue of KRW 38,117,944,017, and net loss of KRW 8,085,082,162 for the year ended December 31, 2015.
INZI CONTROLS CO.,LTD. is a Korea-based company engaged in the manufacturing of automobile parts. The Company's products consist of engine parts, including cooling parts, engineered plastic parts, fuel delivery parts, manifold parts and sensors; transmission parts, including thermal elements and temperature sensors; chassis parts, including braking parts, solenoid products and air cleaner assemblies, and antenna products, including glass antenna modules, micro antennas, film antennas and others. Through its subsidiaries, it also involves in the production of electronic parts, such as thin film transistor liquid crystal display (TFT-LCD) parts and chassis parts used for televisions (TVs), monitors and others. The Company distributes its products within domestic market and to overseas markets. On February 1, 2014, it merged with its wholly owned subsidiary, KOHMECA CO.LTD, engaged in the manufacture of automobile parts and industrial raw material control equipment.
INZI CONTROLS CO.,LTD. 
