Tilon Co., Ltd. announced that it expects to receive KRW 2 billion in funding from Nongshim Capital Co., Ltd., Investment Arm
August 27, 2018
Share
Tilon Co., Ltd. (XKON:A217880) announced a private placement of 160,000 redeemable convertible preferred shares by 3rd party allotment at a price of KRW 12,500 per share for gross proceeds of KRW 2,000,000,000 with new investor Nongshim Capital Co., Ltd., Investment Arm on August 28, 2018. The shares can be redeemed from September 6, 2020 to September 5, 2028. The preferred shares are convertible into 160,000 common shares of the company. The conversion period start from September 6, 2018, and will end on September 5, 2028 at a share premium of 94.61%. The transaction is expected to close on September 5, 2018, the payment date. The transaction has been approved by the board of directors of the company. The eligibility date for dividend payout of new shares is January 1, 2018, and scheduled delivery date of new share certificates is September 13, 2018.
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. 
