Tilon Co., Ltd. announced that it has received KRW 1 billion in funding from Nongshim Capital Co., Ltd., Investment Arm
April 28, 2019
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Tilon Co., Ltd. (XKON:A217880) announced a private placement of series 4 unguaranteed private convertible bond to existing investor Nongshim Capital Co., Ltd., Investment Arm for gross proceeds of KRW 1,000,000,000 on April 29, 2019. The bond bears coupon rate of 2% per annum and yield to maturity of 6.5% and matures on April 29, 2022. The company issued bond at par. The bond is convertible into 80,000 shares representing 1.95% stake at a fixed conversion price of KRW 12,500 per share starting from April 29, 2020 ending on April 28, 2022. The transaction is approved by the board of directors of the company.
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. 
