Edison Inno Completes 40 Billion Won Funding... "Space Industry Visualization"

[Asia Economy Reporter Jang Hyowon] EdisonINNO (Inno) announced on the 18th that the payment for 20 billion KRW worth of convertible bonds (CB) was completed on the 15th. Additionally, the company revised the schedule to advance the payment of 40 billion KRW worth of convertible bonds, originally planned for the 29th of this month, to the 18th and 19th.

At the extraordinary general meeting of shareholders held on June 30, EdisonINNO changed its company name to Innosys and is promoting space business in the satellite and aerospace sectors. The securities industry expects EdisonINNO to invest in the aerospace sector or acquire related companies using the raised funds.

The company has already announced that it is pursuing a space launch vehicle business through JSpace Holdings.

A representative from JSpace Holdings stated, "We have signed a business agreement related to autonomous driving with a domestic autonomous driving company," adding, "Regarding satellite business essential for autonomous driving, we are preparing detailed proposals with EdisonINNO to promote space launch vehicles at local governments and major domestic airports."

An EdisonINNO representative said, "The company is discussing specific plans in cooperation with JSpace Holdings related to satellite launch vehicles and low Earth orbit satellite business," and added, "We are designing a roadmap using the funds raised this time."