Jcontentree corp. announced that it expects to receive KRW 58.706225475 billion in funding from Joongang Holdings Co., Ltd.
Jcontentree corp. announced a private placement of 1,255,775 common shares of par value, KRW 5,000 at a price of KRW 46,749 per share for gross proceeds of KRW 58,706,225,475 on April 28, 2021. The transaction will include participation from returning investor, Joongang Holdings Co., Ltd. for 1,255,775 shares through third party capital allocation method. The transaction has been approved by the board of the company. The securities are subjected to 1-year hold period.