Pearl Abyss Iceland ehf. announced that it expects to receive KRW 216.85362741 billion in funding
October 11, 2018
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Pearl Abyss Iceland ehf. announced a private placement of shares at a price of KRW 9.86 per share for gross proceeds of KRW 194,110,750,000 on October 12, 2018. The transaction include participation from returning investor PearlAbyss Corp. (KOSDAQ:A263750) which will retain its 100% stake in the company. Post the closing, the number of shares will increase from 500,000 to 21,993,768,500. The increase includes debt to equity conversion. The transaction has been approved by the board of directors of the company's parent PearlAbyss Corp. The payment date is October 16, 2018. During the year ended December 31, 2017, the company had total assets of KRW 2,000,000, total capital of KRW 2,000,000, and capital of KRW 5,000,000.
PearlAbyss Corp is a Korea-based company principally engaged in the development and publishing of online games. The Company operates its business through two segments. The Game Business segment develops and supplies games called Black Desert. The Other Business segment engage in the development and sales of game servers and network engines, investment and management consulting.
PEARL ABYSS CORP. 
