The Nolbal Co.,Ltd. announced that it expects to receive KRW 20 billion in funding from Q Capital Partners Co., Ltd., Woori Private Equity Asset Management Company, Ltd
August 09, 2020
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The Nolbal Co.,Ltd. announced that it will issue 400,000 redeemable convertible preferred shares of par value KRW 5,000 per share issue at a price of KRW 50,000 per share for gross proceeds of KRW 20,000,000,000 on August 10, 2020. The transaction will include participation from Woori Q Corporate Financial Stabilization PEF, a fund co-managed by Q Capital Partners Co., Ltd. (KOSDAQ:A016600) and Woori Private Equity Asset Management Company, Ltd. The company will issue securities through third-party allotment method. The shares are convertible, participating and redeemable. The shares carry fixed dividend rate of 3% per share. The shares will be convertible into common shares at a fixed conversion price of KRW 50,000 per share. Before capital increase, the total number of shares issued by the company is 800,000 shares. The transaction is expected to close on September 30, 2020. The transaction has been approved by the board of directors of the company.
Q Capital Partners Co., Ltd. is a Korea-based company mainly engaged in the venture investment business and provision of financial related services. The Company is involved in the venture investment business, which provides the investment and financing services for new technology operators; corporate restructuring business, which provides the investment, acquisition and normalization of financially distressed companies; mergers and acquisitions (M&A), which provides strategy to motivate and promote business expansions, as well as investment fund business, which maintains operational stability of funds and manages investment risks. On March 17, 2014, the Company announced that it sold entire shares of Onse Telecom Corp.
The Nolbal Co.,Ltd. announced that it expects to receive KRW 20 billion in funding from Q Capital Partners Co., Ltd., Woori Private Equity Asset Management Company, Ltd