Cloud Air Co.,Ltd. announced that it expects to receive KRW 7.9999995 billion in funding from K Anchor Inc.
September 16, 2021
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Cloud Air Co.,Ltd. announced a private placement of 5,333,333 common shares of par value, KRW 1,000 at a price of KRW 1,500 per share for gross proceeds of KRW 7,999,999,500 on September 17, 2021. The transaction will include participation from existing investor, K Anchor Inc. The company will issue securities through third party allotment method. The company expects to close the transaction on December 27, 2021. The securities issued are subject to hold period of one year from the date of listing. The transaction has been approved by the board of directors of the company. The number of shares issued prior to the transaction are 56,032,293 shares.
Cloud Air Co Ltd, formerly Livefinancial Co Ltd, is a Korea-based company principally engaged in the manufacture and sale of light emitting diode (LED). The Company operates its business through three segments. The LED Business segment produces LED used for automobiles and lighting. It also engages in the business of real estate rental. The Investment Advisory Business segment provides services related to management consulting. The Fintech Business segment engages in fintech platform and service related business.