Episode Company to Raise 16 Billion Won; Highline to Become Top Shareholder
Episode Company will issue 5,555,552 new shares at 2,880 won each, lifting Highline Company's stake from 9.91% to 22.58% and funding content and commerce expansion.
Episode Company disclosed on the 7th that it will raise 16 billion won through a paid-in capital increase, with the proceeds earmarked for expanding its content, IP and management, and commerce businesses.
Under the plan, 14 billion won will be raised through a third-party allotment and 2 billion won through a small public offering. The third-party allotment covers 4,861,108 common shares at 2,880 won per share, while the small public offering covers 694,444 shares at 2,880 won per share, according to bloter.net.
Once payment is completed, Highline Company will become the largest shareholder, with its stake rising from 9.91% to 22.58%.
The payment date for the new shares is November 13, and the listing date is November 30.
Earlier expansion moves
The capital increase follows Episode Company's acquisition of actor management and drama production company Ace Factory. Through its subsidiary Studio Episode, the company has also been pursuing offline distribution of K-beauty products, including the Nutsherin brand, in Australia, New Zealand and the Middle East, and it plans to review additional M&A targeting companies that can be linked to its content and commerce divisions.
Quick answers
How much is Episode Company raising?
Episode Company will raise 16 billion won through a paid-in capital increase, made up of a 14 billion won third-party allotment and a 2 billion won small public offering.
When will the new shares be listed?
Payment for the new shares is set for November 13, with the listing date on November 30.
Who becomes the largest shareholder?
Highline Company will become the largest shareholder, with its stake rising from 9.91% to 22.58% once payment is completed.