Midas AI Co.,Ltd. announced that it expects to receive KRW 19.99999896 billion in funding from group of investors
April 20, 2021
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Midas AI Co.,Ltd. announced a private placement of 43,668,120 common shares at a price of KRW 458 per share for gross proceeds of KRW 19,999,999,688 on April 21, 2021. The transaction will include participation from Sun-kyung Choi for 4,366,812 shares, Sunbae Seo for 4,366,812 shares, Bunbong Cho for 4,366,812 shares and other individual investors. The company issued share at KRW 100 par value. The transaction will take place through third party allotment. The transaction was approved by the board of directors of the company. Out of total 17,467,248 shares are expected to close on May 20, 2021, 13,100,436 shares on June 18, 2021 and another 13,100,436 shares on July 14, 2021. The securities are subject to a hold period of 1 year.
Setopia Co Ltd, formerly Midas AI Co Ltd, is a Korea-based company mainly engaged in the development and supply of information security solutions. The Company operates its business through two segments. The Security Business segment is mainly engaged in the development and sale of data loss prevention (DLP) solutions, security universal serial buses (USBs) management solutions, privacy solutions and others. The Service Business segment is engaged in the provision of system integration (SI) and system management (SM) related services. In addition, the Company is engaged in the export business include coronavirus disease (COVID)-19 diagnostics, diagnostic kits, personal blood glucose meters, blood glucose meters used in measuring devices and others.
SETOPIA CO.,LTD. 
