SVNovs Co., Ltd. announced that it has received KRW 60.7168 billion in funding from Soulbrain Holdings Co., Ltd.
October 18, 2020
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SVNovs Co., Ltd. announced a private placement of 6,071,680 common shares at an issue price of KRW 10,000 for gross proceeds of KRW 60,716,800,000 on October 19, 2020. The transaction included participation from returning investor Soulbrain Holdings Co., Ltd. (KOSDAQ:A036830). The company raised funding through shareholder allocation increase method. The number of new shares allocated per share is 5.1129937 for equity ratio of 7.21%. Post the closing, the company will own 7,259,180 shares and the investor will retain 100% stake in the company. The transaction has been approved by the board of the directors of the company.
Solbrain Holdings Co Ltd, formerly Solbrain Co Ltd, is a Korea-based company mainly engaged in the manufacture and sale of semiconductor and electronic related chemical materials. The Company operates its business through three segments. The Semiconductor Material segment is engaged in the manufacture and sale of chemical mechanical polishing equipment and devices used in semiconductor manufacturing processes, such as chemical mechanical polishing (CMP) slurries and precursors. The Display Materials segment produces and supplies chemical materials for display manufacturing processes such as etchants and mobile-related products such as thin glasses. The Other segment is mainly engaged in the manufacture and sale of chemical materials for secondary battery manufacturing processes. The Company sells its products in domestic and overseas markets such as the United States, China, and Malaysia.
SOULBRAIN HOLDINGS CO., LTD. 