Mgenplus Co.,Ltd. announced that it expects to receive KRW 3.85 billion in funding from CP Holings Co., Ltd., and other investors
March 15, 2021
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Mgenplus Co.,Ltd. (KOSDAQ:A032790) announced a private placement of 1,925,000 common shares at an issue price of KRW 2,000 per share for gross proceeds of KRW 3,850,000,000 on March 16, 2021. The transaction will include participation from AFC Transcure Fund for 300,000 shares, KLH Partners Limited Liability Company for 500,000 shares, TS Consulting Co., Ltd for 625,000 shares and returning investor CP Holdings Co., Ltd. for 500,000 shares. The shares will be issued at a premium of 150%. The company will issue shares through third party allotment method. The securities issued will be subject to a hold period of one year. The transaction is expected to close on March 25, 2021. The transaction has been approved by the board of directors of the company.
Mgen Solutions Co Ltd, formerly BNGT Co Ltd, is a Korea-based company engaged in the manufacture and sale of printer cartridge parts. The Company operates its business through five segments. The Developing Machine Business segment is engaged in the manufacture and sale of printer cartridge parts. The Broadband Convergence Network (BcN)/Artificial Intelligence (AI) Business segment is engaged in the operation and build of broadband self-communication network. The Segment is also engaged in the provision of artificial intelligence image analysis solutions. The Communication Network Business segment is engaged in the provision of information technology services related to smart homes and the Internet of Things (IoT). The Bio Business segment is engaged in the development of organs for transplantation. The Other Business segment is engaged in the sale of medical devices.
MGEN SOLUTIONS CO., LTD. 
