Ascendio Co., Ltd. announced that it expects to receive KRW 28.999998881 billion in funding
September 25, 2023
Share
Ascendio Co., Ltd. has announced a third party allotment of 13,820,335 common shares at issue price KRW 1,013 for gross proceeds of KRW 13,999,999,355 and 14,807,502 common shares at an issue price of KRW 1,013 per share for the gross proceeds of KRW 14,999,999,526; for total gross proceeds of KRW 28,999,998,881 on September 26, 2023. The transaction included investor participation from Tdm Private Equity Co.,Ltd. for 13,820,335 common stock acquiring 11.44% stake in the transaction. The transaction has been approved by the board of directors of the company on September 26, 2023. All the securities to be issued in the offering is subject to a lock-up period of one year from the listing date. The transaction is now expected to close on November 08, 2023. Expected listing date of new shares is November 27, 2023.
For 14,807,502 shares - The transaction included participation from new investor EL EVATA. The transaction has been approved by the shareholders of the company. The shares are restricted to a hold period of 1 year. The transaction is expected to close on January 11, 2024.
Ascendio Co Ltd, formerly Kiwi Media Group Co Ltd, is a Korea-based company principally engaged in the content business. The Company operates its business through six segments. The Film Business segment is engaged in film production, investment and distribution. The Drama Business segment is engaged in the production and investment of contents such as dramas and others. The Video Business segment is engaged in closed circuit television (CCTV) manufacturing and installation, and software development. The Management Business segment provides services such as artist management and others. The Performance Business segment is engaged in planning and producing performances such as musicals and others. The Other segment provides services such as advertisements and sponsorships, among others.
ASCENDIO CO., LTD. 
