Feelingk Co., Ltd announced that it expects to receive KRW 1.999999292 billion in funding
February 05, 2020
Share
Feelingk Co., Ltd (KOSDAQ:A064800) announced a private placement of 1,483,679 common shares at a price of KRW 1,348 per share for the gross proceeds of KRW 1,999,999,292 on February 5, 2020. The transaction included participation from returning investor Gembags & Kael. The shares are issued by the way of third party allotment. Post the closing of the transaction, the number of shares will increase from 72,111,959 shares to 73,595,638 shares. The shares will carry a face value of KRW 100 per share and will be issued at a premium. The shares have a lock up period of one year from the date of issuance. The transaction is expected to close on February 13, 2020. The scheduled date for listing of the shares is February 26, 2020. The transaction has been approved by the board of directors.
PonyLink Co Ltd, formerly GemVaxLink Co Ltd, is a Korea-based company principally engaged in the clothing miscellaneous goods business. The Company operates its business through three segments. The Overseas Clothing and Miscellaneous Goods Wholesale and Retail segment is mainly engaged in the overseas clothing accessories wholesale and retail business. The Wireless Internet Solutions segment is mainly engaged in the e-commerce platform construction, messaging communication marketing, and mobile platform construction business. The Finance segment is mainly engaged in the provision of management consulting services.