UBCare Co., Ltd. announced that it expects to receive KRW 48 billion in funding from Kakao Investment Co.,Ltd and other investors
March 07, 2018
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UBCare Co., Ltd. (KOSDAQ:A032620) announced a private placement of 11,910,669 common shares at a price of KRW 4,030 per share for gross proceeds of KRW 47,999,996,070 on March 8, 2018. The transaction will involve participation from Kakao Investment Co.,Ltd for 10,421,836 shares and individual investor Seungwon Park for 1,488,833 shares. The shares will be issued at a premium. The shares will be issued by a way of third party allotment. Post the closing of the transaction, the total number of shares issued by the company will increase from 40,286,470 to 52,197,139. The transaction is expected to close on April 27, 2018. The shares will be subject to a lock-up period for 1 year from the date of closing. The transaction has been approved by the board of directors of the company.
UBCARE CO., LTD. is a Korea-based company engaged in the provision of healthcare solutions. The Company mainly operates in two segments. The Medical Information Platform segment provides integrated information solutions providing medical services. The Personal Health Information Management Platform segment provides health management services. In addition, the Company distributes medical instrument and green agricultural products, as well as operates electronic commerce business.