Expansion of Image Enhancement Solutions, New Product R&D, and Global Sales Network
New Shares Scheduled to Be Listed on December 29
4by4, a content artificial intelligence (AI) solutions company, has begun raising funds as it accelerates its PIXELL solution business.
On September 5, 4by4 held a board meeting and resolved to conduct a rights offering with a general public offering of forfeited shares, amounting to approximately 30 billion won, the company announced on September 8.
The funds raised through the paid-in capital increase will be used for the advancement of AI models and new product R&D, expansion of the global sales network, strengthening of strategic alliances and partnerships, and recruitment of additional R&D personnel. These investments are aimed at expanding the AI PIXELL business for image quality enhancement solutions.
The company plans to integrate and expand its internet data center (IDC) for commercial PIXELL solution services, conduct research and development to improve the performance of foundational AI models for image quality enhancement, expand its sales network through its U.S. subsidiary, and strengthen partnerships with content delivery network (CDN) and managed service provider (MSP) companies for cloud infrastructure management. Funds will also be allocated to deep learning-based video quality optimization research and AI model training.
The paid-in capital increase will issue 3.1 million new shares, representing 27.75% of the total number of shares outstanding, with a total issuance amount of 29,853,000,000 won. Each existing share will be allocated 0.278 new shares, and the planned issue price is 9,630 won per share. The new shares are scheduled to be listed on December 29.
Yoon Junho, CEO of 4by4, stated, "The real-time image enhancement model 'AI PIXELL Stream,' for which a pilot product will be launched in the second half of this year, can improve live sports broadcasts and concert footage in real time without interruptions, where a sense of realism is crucial." He added, "We expect to pioneer a new market segment with boundless potential." He further explained, "The funds raised through this paid-in capital increase will provide substantial support for commercializing new products and exploring overseas markets."
CEO Yoon also commented, "This paid-in capital increase will serve as an important growth platform for both 4by4 and the AI PIXELL solution to take a significant leap forward," and added, "We will quickly deliver tangible results from our new business to meet the trust of our shareholders."
In the first half of this year alone, 4by4 secured approximately 11.3 billion won in new orders for public sector content exhibition space projects and achieved a turnaround to positive EBITDA in the second quarter.
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