Fourbyfour Secures New Growth Engine for AI Solution Business Through Paid-in Capital Increase

On October 10, Fourbyfour, a content artificial intelligence (AI) solutions company, announced that it will raise investment funds through a paid-in capital increase of 30 billion won to accelerate its AI PIXELL solution business.

The initial issue price will be determined on October 13. According to the securities registration statement, this paid-in capital increase will involve the issuance of 3.1 million new shares. This represents 27.75% of the total number of shares issued, with a total issuance amount of 29.853 billion won. The number of new shares allocated per existing share is 0.27753568, and the expected issue price is 9,630 won per share, which is a 25% discount compared to the closing price on the base date. The newly issued shares are scheduled to be listed on December 29.

On September 5, Fourbyfour's board of directors resolved to conduct a paid-in capital increase through a shareholder allocation followed by a general public offering of forfeited shares, amounting to approximately 30 billion won. The funds raised will be invested in key areas to advance the AI PIXELL business. The main areas of use include: ▲ advancement of AI models and new product R&D ▲ expansion of the global sales network ▲ strengthening of strategic alliances and partnerships ▲ recruitment of additional R&D personnel, among others.

Specifically, the funds will be used for integration and expansion of internet data centers (IDC), research to improve the performance of foundational AI models, expansion of the sales network through the U.S. subsidiary, strengthening infrastructure partnerships such as CDN and MSP, development of deep learning-based video quality optimization technology, and AI model training.

The board of directors resolved to carry out the capital increase based on the strategic judgment that launching new products for the PIXELL image enhancement AI solution and strengthening sales are essential to ensure the company's growth.

Yoon Junho, CEO of Fourbyfour, stated, "The real-time image enhancement model 'AI PIXELL Stream,' scheduled for release in the second half of this year, is optimized for real-time content such as sports broadcasts and live performances," adding, "It has significant potential to create new markets." He further commented, "We expect this paid-in capital increase to provide substantial momentum for the commercialization of new products and overseas expansion."