ROBOTIS Beijing Co., Ltd. announced that it expects to receive KRW 291.992 million in funding from Robotis Co,.Ltd
May 28, 2019
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ROBOTIS Beijing Co., Ltd. announced a private placement of common shares for the gross proceeds of KRW 291,992,000 on May 29, 2019. The transaction will include participation from returning investor Robotis Co,.Ltd (KOSDAQ:A108490) for 9.5% stake in the company. Post closing, investor will acquire 94.5% stake in the company. The transaction was approved by board of directors of the investor. The transaction is expected to close on June 28, 2019.
ROBOTIS CO., LTD. is a Korea-based company mainly engaged in the production and sale of edutainment robots. The edutainment robots apply to elementary schools and early childhood education. The edutainment robot are sold under the names of ROBOTIS OLLO, DREAM, SMART, PLAY, ROBOTIS MINI, PREMIUM and STEM. The Company is engaged in provision of humanoid robot actuators and robot platform. The actuators are applied to professional service robots such as medical, defense, aerospace robots. In addition, the Company manufactures and sells robot parts. The Company distributes its products within the domestic market and to overseas markets.
ROBOTIS CO., LTD. 