TILON Co.,Ltd. announced that it expects to receive KRW 1.5 billion in funding
November 21, 2019
Share
TILON Co.,Ltd. (XKON:A217880) announced a private placement of 120,000 redeemable convertible preferred stocks at a price of KRW 12,500 per share for gross proceeds of KRW 1,500,000,000 on November 21, 2019. The transaction will include participation from Black Yak I & C. The redemption period is November 29, 2022 to November 29, 2029. The par value of redeemable convertible preferred stock is KRW 500 and are being issues at premium. The company will issue shares through third-party allotment method. The Payment date for shares is November 29, 2019. The transaction has been approved by board of directors of the company. Each redeemable convertible preferred stock will convert into one common share from November 29, 2019 to November 29, 2029.
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. 