Metalabs Co., Ltd. announced that it expects to receive KRW 5.999999265 billion in funding from Liting Labs Co., Ltd.
November 24, 2021
Share
Metalabs Co., Ltd. announced a private placement of 7,017,543 common shares at an issue price of KRW 855 per share and for a par value of KRW 500 for gross proceeds of KRW 5,999,999,265 on November 25, 2021. The company will issue securities through third party allotment method. The transaction include participation from Liting Labs Co., Ltd. The transaction is expected to close on December 03, 2021. The transaction was approved by the board of directors of the company. The securities issued are subjected to one year hold period.
METALABS CO., LTD., formerly AVISTA INC., is a Korea-based company mainly engaged in the casual apparel business. The Company produces and sells casual apparel and accessories under the brand of BNX, which is feminine and romantic character for women in their twenties; TANKUS, which is casual apparel with detailed design and dynamic color and fabrics; eryn brinie, which is soft and simple character casual apparel, and Kai-aakmann, which is feminine and masculine look character for men and women in their twenties. In addition, it is engaged in the overseas wholesale and retail of products through its affiliates in Shanghai, New York and Milano.
METALABS CO., LTD. 
