Deepnoid-capital increase

Deepnoid to raise 17.9 bln won via stock sale

SEOUL, July 21 (Yonhap) -- Deepnoid Inc. on Friday announced that it will sell stock to raise 17.9 billion won(US$13.9 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue 1.5 million common shares at a price of 11,910 won per share. The stock will be sold to the firm’s shareholders.

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