Studio Dragon Corporation announced that it expects to receive KRW 3.03 billion in funding
September 12, 2016
Share
Studio Dragon Corporation announced a private placement of 11,000 common shares at a price of KRW 275,000 per share for gross proceeds of KRW 3,025,000,000 on September 13, 2016. The transaction will include participation from existing investors Jinwook Jang, Younghyun Kim, and Sangyeon Park for 3,000 shares, 4,000 shares, and 4,000 shares respectively. The shares will be issued at par through third party allotment. The shares will be issued at par. The board of directors of the company has approved the transaction. The scheduled delivery date of new share certificates is September 22, 2016. The payment date is September 21, 2016. The investors would acquire 0.499155% stake in the transaction
Studio Dragon Corp is a Korea-based company mainly engaged in the broadcast video production business. The Company is engaged in producing dramas and organizing them for broadcasters, and the distribution business in domestic and overseas. In addition, the Company is engaged in the businesses such as indirect advertisements generated by sponsoring drama props, related digital video discs (DVDs), original sound tracks (OSTs), merchandiser (MD) products, and management.