Abpro Bio Co., Ltd. announced that it expects to receive KRW 4.99999895 billion in funding
October 13, 2021
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Abpro Bio Co., Ltd. announced a private placement of 4,587,155 shares at the price of KRW 1,090 per share for gross proceeds of KRW 4,999,998,950 on October 14, 2021. The transaction will include participation from Wonjin Partners Co., Ltd. The shares will have restriction for 1 years. The face value of shares is KRW 500 per share. The method of issuance is third party allotment method. The board of directors of the company has approved the transaction. The transaction is expected to close on December 29, 2021.
Abpro Bio Co., Ltd., formerly Ugint Co., Ltd., is a Korea-based company engaged in machine tools manufacturing. The Company produces and distributes small sized machining centers for notebooks, smart phones, tablet personal computers, mobile phones, base plates, light emitting diode (LED) and light crystal display (LCD) television panels, automobile parts, motorbikes parts and aircraft parts. The Company also engages in original equipment manufacturing business (OEM). The Company operates its business within domestic markets and foreign markets such as China and Europe countries.
ABPRO BIO CO., LTD. 
