Tilon Co.,Ltd. announced that it expects to receive KRW 200 million in funding from Busan Bank Co., Ltd., Investment Arm
September 28, 2016
Share
Tilon Co.,Ltd. announced a private placement of 20,000 preferred shares at a price of KRW 10,000 per share for gross proceeds of KRW 200,000,000 with returning investor Busan Bank Co., Ltd. on September 29, 2016. The preferred shares are convertible in to common shares of the company with conversion period starting from September 29, 2016 to September 29, 2021 and redemption period starting from September 29, 2019 to September 29, 2021. The board of directors of the company has approved the transaction. The company will issue shares through third party allotment. The payment date of the transaction is October 4, 2016.
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. 
