K-Beauty distribution company SILICON2 is showing strong performance in the early trading on the 24th. This follows reports that it secured an investment of 144 billion won from Glenwood Credit, a domestic private credit fund (PCF).
As of 9:45 a.m. on this day, SILICON2's stock is trading at 35,900 won, which is up 6.21% (2,100 won) compared to the previous trading day.
Earlier, SILICON2 announced that on the 21st, it decided to allocate new shares to a third party through a paid-in capital increase to raise 144 billion won for operating funds. The investment corporation Silk Investment Purpose Company is a special purpose company (SPC) established by Glenwood Credit.
The company stated that it will issue 4,044,344 redeemable convertible preferred shares (RCPS) at a price of 32,695 won per share. With a conversion ratio of 100%, Glenwood Credit will hold approximately 6.72% equity in SILICON2 upon conversion to common stock.
SILICON2 is reportedly planning to use this investment to expand its logistics bases. Additionally, 50 billion won has been allocated for debt repayment.