SOLiD, Inc. announced that it expects to receive KRW 10 billion in funding
May 12, 2020
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Solid, Inc. (KOSDAQ:A050890) announced a private placement of series 5 bearer-type non-guaranteed private equity convertible bonds for gross proceeds of KRW 10,000,000,000 on May 13, 2020. The bonds will be issued at par. The bonds will mature on May 20, 2022. The bonds will not carry any coupon. The bonds will be 100% convertible into common shares at KRW 5,884 per share. The conversion period will start from May 20, 2021 and will end on April 20, 2022. The bonds will be redeemed at lump sum on the maturity date. The subscription date of the transaction is May 13, 2020 and payment date for the transaction is May 20, 2020. The transaction has been approved by the board of directors the company. The transaction will include participation from Smilegate Rainier KOSDAQ Venture Hedge Fund 2 for KRW 4,500,000,000, Smilegate Rainier KOSDAQ Venture Hedge Fund 3 for KRW 2,300,000,000 and Smilegate OrchardHedge Fund 3 for KRW 3,200,000,000.
SOLiD, Inc. is a Korea-based company engaged in the manufacture of communication equipment such as wideband code division multiple access (WCDMA) repeaters and long term evolution (LTE) equipment. The Company mainly produces mobile communications equipment, including dual-band category 5 cable (CAT-5) distributed antenna systems (DASs), multi-band fiber-optic DASs, multi-use digital high frequency current (HFC) DASs, interference cancellation systems, digital channel selective repeaters, antenna embedded home repeaters and others. It also produces mobile televisions (TVs) equipment, including in-building fiber-optic DASs, radio frequency (RF) on-channel gap fillers and satellite link gap fillers, as well as wavelength division multiplexing passive optical network (WDM-PON) systems.
SOLID, INC. 
