Solid Wintech, Inc. announced that it expects to receive KRW 5 billion in funding from SOLiD, Inc.
June 13, 2018
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Solid Wintech, Inc. announced a private placement of 10,000,000 common shares at an issue price of KRW 500 per share for gross proceeds of KRW 5,000,000,000 on June 14, 2018. The transaction will involve participation from existing investor Solid, Inc. (KOSDAQ:A050890). Post the closing of the transaction, the shares issued by the company will increase from 11,000,000 to 21,000,000 and the investor will continue to hold 100% stake in the company. The transaction is expected to close on June 15, 2018. The transaction was approved by the board of directors of the investor. The company reported total assets of KRW 16,328,000,000, total liabilities of KRW 11,553,000,000, and net income of KRW 234,000,000 for the year ended December 31, 2017.
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. 
