Yelopay Corporation announced that it has received KRW 3 billion in funding.
December 22, 2014 at 11:00 pm
Yelopay Corporation announced a private placement of 1,500,000 convertible preferred shares at KRW 2,000 per share for gross proceeds of KRW 3,000,000,000 on December 18, 2014. The securities will be issued through third party allocation. The shares beinf issued carry a par value of KRW 500 per share. The preferred shares will be convertible into registered common shares of the company. The payment date for the transaction is December 23, 2014. On the same date, the transaction was approved by the board of directors of the company.
On December 23, 2014, Yelopay Corporation closed the transaction.