Solid, Inc. announced that it expects to receive KRW 25 billion in funding from Pine Tree AMC Ltd.
September 26, 2017
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Solid, Inc. (KOSDAQ:A050890) announced that it will receive an equity round of funding for gross proceeds of KRW 25,000,000,275 on September 27, 2017. The company issued 4,775,724 type 1 redeemable convertible preferred stock, 4,419,679 type 2 redeemable convertible preferred stock, and 2,298,850 type 3 redeemable convertible preferred stock at an issue price of KRW 2,175 in the transaction. The securities were issued at a premium. The transaction involved participation from Pine Tree AMC Ltd. The securities were issued through third party allotment method. The securities are subject to a lock up period of 1 year. The securities will be convertible from November 21, 2018 to November 20, 2027. The securities are convertible in 1 common stock per 1 other type share. The transaction is expected to close on November 20, 2017. The transaction was approved by the board of directors of the company.
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. 
