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FINWIRES

Solum's US Unit to Raise $30 Million in Rights Offering

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Solum's (KRX:248070) wholly owned US subsidiary, SoluM USA, has decided to raise $30 million through a rights offering to fund facility investments and operating capital.

The capital increase involves issuing 300,000 new common shares at a par value of $100 per share, with the parent company participating fully in the offering, according to a bourse filing on Thursday.

The transaction is valued at 42.5 billion won based on an exchange rate of 1,415 won per dollar, though the final won amount may vary depending on the actual transfer date.

Subscription payment is scheduled for Aug. 24, with the timeline subject to change pending regulatory approvals.

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