UbiVelox Co., Ltd. announced that it has received KRW 10 billion in funding from Nongshim Capital Co., Ltd., Shinhan Capital Co., Ltd., and With Venture Capital Co., Ltd.
January 28, 2014 at 11:00 pm
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UbiVelox Co., Ltd. (KOSDAQ:A089850) announced a private placement of second unregistered coupon unsecured private convertible debenture for gross proceeds of KRW 10,000,000,000 on January 28, 2014. The transaction will include participation from new investors, With Venture Capital Co., Ltd., which will invest KRW 5,000,000,000, Shinhan Capital Co., Ltd., which will invest KRW 3,000,000,000, and Nongshim Capital Co., Ltd., which will invest KRW 2,000,000,000 in the transaction. The debenture will bear no interest and will mature on January 29, 2019. The debenture will be convertible into common shares of the company at a conversion price of KRW 17,898 per share at a conversion rate of 100%. The conversion period will start from January 29, 2015 and will end on January 28, 2019. On the same date, the transaction was approved by the board of directors of the company. The subscription date and the payment date of the transaction is January 29, 2014.
On January 29, 2014, UbiVelox Co., Ltd. closed the transaction.
UBIVELOX Inc is a Korea-based company that mainly develops and provides system software. The Company operates through three segments. The Black Box and Map Platform Business segment is mainly engaged in the provision and sale of black boxes for vehicles. Additionally, this segment is engaged in the development and provision of navigation. The Smart Card Business segmemt is principally engaged in the development and provision of smart card sales and system construction. The Mobile Business segment is mainly engaged in the provision of My Data service, beacon supply, and mobile platform solutions.
UbiVelox Co., Ltd. announced that it has received KRW 10 billion in funding from Nongshim Capital Co., Ltd., Shinhan Capital Co., Ltd., and With Venture Capital Co., Ltd.
UBIVELOX INC 
