Midas AI Completes Payment for Third-Party Allocation Rights Offering, 'Ammunition Loaded'... "New Business Accelerates"

[Asia Economy Reporter Yoo Hyun-seok] Midas AI announced on the 29th that 8 billion KRW was paid in a third-party allotment capital increase conducted for the largest shareholder SA Corporation and one other.

SA Corporation paid 5.001 billion KRW, and Midas Partners paid 3 billion KRW. The issue price was 650 KRW, and the newly issued shares will be under a one-year lock-up period. According to a representative of SA Corporation, “As our shareholding ratio increases, we will take on more responsibility and ownership as the largest shareholder and engage in management with a stronger sense of duty.”

At the extraordinary general meeting held on the 23rd, Hu Zhenkai, head of the SA Corporation Research Institute, and representatives from Midas Partners who participated in this capital increase were appointed as new board members.

Meanwhile, Midas AI is promoting a marijuana business locally in the United States. It is about to sign an acquisition contract for Melrose Facility Management (MFM), which has marijuana cultivation and extraction facilities in California.

In addition to cultivation facilities, the company is also reviewing the acquisition of retail stores from recreational marijuana sellers. The plan is to increase business efficiency through vertical integration of the marijuana business. A company representative said, “With the funds raised from this capital increase, it is expected that the signing of the main contract and acquisition procedures will be accelerated.”

This content was produced with the assistance of AI translation services.