On June 19, Sonokong announced that a paid-in capital increase worth 5 billion KRW and the subscription for convertible bonds (CB) worth 20 billion KRW have been completed, resulting in a change of the largest shareholder to HK Mobility Company. The previous largest shareholder, H2 Partners, has become the second-largest shareholder.
Of the 20 billion KRW in CBs, 16 billion KRW will be used as facility funds. This amount will be allocated as the balance payment for a real estate purchase contract, following the decision to acquire tangible assets (land and building) with a total floor area of approximately 510 pyeong, located in Nonhyeon-dong, Gangnam-gu, Seoul, as disclosed on May 30 of this year. The remaining 4 billion KRW will be used as operating funds. In addition, the 5 billion KRW raised through the completed paid-in capital increase will also be used as operating funds.
Sonokong stated, "Nintendo's next-generation game console, 'Nintendo Switch 2,' which was released on the 5th of this month, is showing sales performance beyond expectations," adding, "The funds will be primarily used to secure stock and acquire new offline stores."
The company further emphasized, "After the stable subscription of the 12th and 13th CBs scheduled for June 27, we plan to accelerate efforts to strengthen our existing toy business and promote new business initiatives."
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