Tilon Co., Ltd. announced that it expects to receive KRW 1 billion in funding from Geon Investment Co., Ltd.
November 20, 2018
Share
Tilon Co., Ltd. (XKON:A217880) announced a private placement of 80,000 redeemable convertible preferred shares at a price of KRW 12,500 per share for gross proceeds of KRW 1,000,000,000 with new investor Future Creation Geon Fund 4, a fund managed by Geon Investment Co., Ltd. on November 20, 2018. The shares can be redeemed from November 29, 2020 to November 28, 2028. The preferred shares are convertible into 80,000 common shares of the company. The conversion period start from November 28, 2018 to November 28, 2028. The transaction is expected to close on November 28, 2018. The transaction has been approved by the board of directors of the company. The company will issue shares via third party allotment.
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. 
