OpenEdge Technology Decides on 60 Billion KRW Third-Party Allotment Capital Increase

Stonebridge Ventures, Atinum Investment Funding
"45 Billion KRW for R&D, 15 Billion KRW for M&A Use"

Open Edge Technology, a semiconductor intellectual property (IP) platform company, announced on the 22nd that it has decided to conduct a third-party allotment paid-in capital increase worth 60 billion KRW.

This paid-in capital increase is expected to be contributed by Stonebridge Ventures and Atinum Investment, each investing 30 billion KRW. It will be issued in the form of convertible preferred shares (CPS).

Open Edge stated that the two institutions have participated in investment since the company's inception and successfully recovered their investments after the initial public offering (IPO) in 2022.

Open Edge explained that through this capital increase, it will secure the necessary funds to proactively respond to the high-performance application-specific integrated circuit (ASIC) trends for the artificial intelligence (AI) semiconductor market and seek opportunities for mergers and acquisitions (M&A).

An Open Edge representative said, "Out of the secured funds, 45 billion KRW will be used for research and development (R&D) to expand the product portfolio, and 15 billion KRW will be utilized for M&A."

The company plans to enhance the performance of its existing neural processing unit (NPU) IP lineup for large language models (LLM) and small language models (SLM). It will expand the single-die memory subsystem solution into multi-die and multiple-chip IP solutions. A die refers to a small rectangular piece cut from a wafer.

Lee Seong-hyun, CEO of Open Edge Technology, said, "Based on the funds secured through this investment attraction, we will accelerate the recruitment of development personnel to expand our business."

Recently, Open Edge completed silicon verification of PHY (physical layer) IP supporting the 4th generation high bandwidth memory (HBM) semiconductor 'HBM3' for 7nm (nanometer, 1nm = one billionth of a meter) and the low-power double data rate 5X (LPDDR5X) standard for 5nm.

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