GLONIX CO.,LTD announced that it expects to receive KRW 5.28 billion in funding from LB Semicon Inc.
April 10, 2012 at 12:00 am EDT
GLONIX CO.,LTD announced a private placement of 6,956,531 shares at a price of KRW 758.7496 per share for gross proceeds of KRW 5,278,265,500 on April 10, 2012. The transaction will see participation from existing investor, LB Semicon Inc. The scheduled closing date of transaction is April 14, 2012. After completion of the transaction, the investor will hold 34.8% stake in the company. 3,356,531 shares will be subscribed by existing shareholders and 3,600,000 shares will be subscribed by the third party. The payment date for allocation to existing shareholders is April 10, 2012 and payment date for allocation to the third party is April 13, 2012. The company had total assets of KRW 18,610,000,000, total liabilities of KRW 20,710,000,000, sales revenue of KRW 2,249,000,000, and net loss of KRW 7,978,000,000 in 2011.
On April 10, 2012, the company issued 3,356,531 shares.