TASCOM Co.,Ltd. announced that it expects to receive KRW 4.99995 billion in funding from SV Investment Corporation and other investors

TASCOM Co.,Ltd. announced a private placement of 277,775 registered convertible preferred shares at the price of KRW 18,000 per shares for gross proceeds of KRW 4,999,950,000 on June 29, 2022. The transaction will include participation from SV Unicorn Growth Fund, a fund managed by SV Investment Corporation for 166,666 shares, Tion Partners for 61,111 shares, Jin Kuk Kim for 16,666 shares, Joon Sub Shin for 16,666 shares and Byung Hoon Min for 16,666 shares. The face value of the shares is KRW 500.

The company will raise funding through third party allotment. The preferred shares are converted into common shares of the company. The preferred shares are convertible from July 15, 2025 and ends on July 14, 2032.

The transaction was approved by the board of directors of the company. The transaction is expected to close on July 14, 2022. Prior to the transaction, the total number of preferred shares issued are 869,204 preferred shares and total common shares issued are 4,071,173 shares.