Tilon Co., Ltd. announced that it expects to receive KRW 2 billion in funding from New Optics Ltd.
December 05, 2016
Share
Tilon Co., Ltd. announced a private placement of 200,000 redeemable convertible preferred shares 2 at a price of KRW 10,000 per share for gross proceeds of KRW 2,000,000,000 on December 6, 2016. The shares will be issued through third party allotment. The shares can be redeemed from December 9, 2019 to December 9, 2026. The shares are convertible into 200,000 common shares of the company. The conversion period start from December 10, 2016, and will end on December 9, 2026. The transaction is expected to close on December 9, 2016. The transaction has been approved by the board of directors of the company. The transaction will include participation from new investor; New Optics Ltd.
Tilon Co Ltd is a Korea-based company principally engaged in the development and supply of application software. In addition, the Company is also engaged in the manufacture and sell of computer systems; developing and supplying total solutions. The Company mainly operates private cloud business that can be introduced as a built-in cloud due to security issues such as smart work, mobile office, green IT, and network separation in companies or public institutions. The Company also operates public cloud business that allows individuals or small and medium-sized businesses to pay only for what they use in a pay-as-you-go format and utilize the cloud system without building a system themselves.
TILON CO.,LTD. 