Candelachain Inc. announced that it expects to receive KRW 1.5003255 billion in funding from Linkgenesis Co., Ltd.
September 16, 2018
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candelachain Inc. announced a private placement of 1,000,217 common shares at KRW 1,500 per share for gross proceeds of KRW 1,500,325,500 on September 17, 2018. The transaction will involve participation from new investor, Linkgenesis Co., Ltd. (KOSDAQ:A219420). On closing, the investor will hold 50% stake in the company. The company will issue shares through third-party allocation method. The payment date of the transaction is September 27, 2018. The transaction has been approved by the board of directors of the investor. The company reported total assets of KRW 334,000,000, total debts of KRW 5,000,000, total capital of KRW 329,000,000, capital of KRW 350,000,000, and net income of KRW -20,000,000 for the year ended December 31, 2017.
Linkgenesis Co., Ltd. is a Korea-based company primarily engaged in providing automated software testing solution for semiconductor, Liquid Crystal Display (LCD), Light Emitting Diode (LED) and solar industries. The Companyâs products include Machine Auto Tester (MAT), Validation System For embedded Linux Target (VOLT) and Smart Monkey And Random Tester (SMARTER). It also provides Implementing & operating automated testing environment, outsourced software testing service and test consulting service.