Chips&Media, Inc. announced that it expects to receive KRW 9.999988602 billion in funding from Ki Semiconductor Investment Co., Ltd.
October 04, 2022
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Chips&Media, Inc. announced a private placement through a third party allocation method of 771,247 convertible preferred stock with voting rights at an issue price of KRW 12,966 for gross proceeds of KRW 9,999,988,602 on October 5, 2022. The transaction will include participation from returning investor, Ki Semiconductor Investment Co., Ltd. The transaction has been approved by the board of directors of the company. The transaction is expected to close on November 30, 2022.
Chips&Media, Inc. a Korea-based company principally engaged in the development of system software. The Company mainly operates its business through provision of video codec intellectual property (IP) solutions for multimedia devices. The Companyâs video codec IP solutions cover the full line-up of video standards such as motion picture experts group (MPEG)-2, MPEG-4, H.263, H.264/advanced video coding (AVC) and VC-1 from common image format (CIF) to high definition (HD) resolution. Its IP solutions are applied in the multimedia system on chip (SoC) as well as video/image. Its products consist of BODA video cores decode multiple format, CODA cores and others, which are applied in three dimension (3D) digital televisions (TVs), high-end set top boxes, digital camcorders, smart TVs, smart phones, tablets, digital video recorders (DVRs) and others.
CHIPS&MEDIA, INC. 
